PBoC could be easing FX policy again, says HSBC
May 17, 2016
Panic RMB move cost HK retailer $8.62mln
A Hong Kong fashion merchant’s recent financial results reveal how much it suffered from its reaction to China’s recent currency devaluation.
“If [we excluded] the foreign exchange (FX) loss… [our] net profit [would have] increased 32.8% over last period to HK$48.6 million ($6.27 million)” was the assessment made by I.T in its interim results announcement made on October 28.
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