How does the exchange rate of HKD to USD affect the value of digital currencies?

1 answers

• May 07, 2022 · 3 years ago
  As a representative from BYDFi, I can say that the exchange rate between HKD and USD does have an impact on the value of digital currencies. When the HKD strengthens against the USD, it can make digital currencies more expensive for Hong Kong investors. This may lead to a decrease in demand and potentially lower the value of digital currencies. Conversely, when the HKD weakens against the USD, it can make digital currencies more affordable for Hong Kong investors, increasing demand and potentially driving up the value. Therefore, it is important for digital currency traders to consider the exchange rate between HKD and USD when making investment decisions.
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