Hong Kong's chief executive, Eddie Yue, stated that the city has no intention to change its currency system, which pegs the Hong Kong dollar to a tight band with the US dollar. The Linked Exchange Rate System (LERS) allows the Hong Kong Monetary Authority (HKMA) to intervene in maintaining the exchange rate between 7.75 and 7.85 per US dollar. Despite recent speculation about potential geopolitical shocks, the system has operated smoothly, according to Yue. He noted that Hong Kong's sizeable foreign reserves of over $420 billion ensure the stability of the LERS. Analysts at Barclays predict that the Hong Kong dollar will remain close to 7.75 per dollar in January before weakening subsequently due to global factors and a decline in IPO activity.
https://channelnewsasia.com/business/hong-kong-sees-no-need-change-us-dollar-pegged-currency-system-4847796