Hong Kong Sees US Dollar-Yuan Overtake HKD-USD as Top Currency Pair

The US dollar-yuan currency pair has become the most-traded in Hong Kong for the first time, surpassing the traditional Hong Kong dollar-U.S. dollar pair, according to a recent survey by the Treasury Markets Association.

Average daily foreign exchange turnover in Hong Kong rose to $908.2 billion in April, with the US dollar-yuan pair accounting for 30.2% of total transactions at $274 billion.

This marks a significant shift in the city's currency market, which had previously been dominated by the Hong Kong dollar-U.S. dollar pair.