But why have we succeeded in defending the linked exchange rate?
但我们为甚么可以成功捍卫联系汇率？
Over the last few months we have successfully defended the linked exchange rate.
过去数月，我们成功捍卫联系汇率。
Year after year, since the linked exchange rate was established, our fiscal reserves every year average about 2% of GDP.
自从港元与美元挂钩后，我们的财政储备平均每年维持于本地生产总值的百分之二左右。
The swap market in Hong Kong plays an important role in channelling funds. it is also a highly efficient indicator of confidence in the linked exchange rate.
本港的掉期市场是资金中转的重要渠道，亦是有效反映市场对联系汇率信心的指标。
The swap market in hong kong plays an important role in channelling funds. it is also a highly efficient indicator of confidence in the linked exchange rate .
本港的掉期市场是资金中转的重要渠道，亦是有效反映市场对联系汇率信心的指标。
The biggest risk comes from measures linked to China's supposed exchange-rate misalignment.
最大的风险来自测量假定的中国汇率失调的标准。
Previous exchange-rate systems had been linked, directly or indirectly, to gold.
在这之前，汇率体系直接或间接地与黄金挂钩。
5the biggest risk comes from measures linked to China's supposed exchange-rate misalignment.
与据推测，中国汇率调整不当，对此可能采取的措施构成了最大的风险。
Interest rate linked foreign exchange structured deposits are equivalent to callable bonds.
与利率关联的外汇结构性存款是可赎回债券。
Interest rate linked foreign exchange structured deposits are equivalent to callable bonds.
与利率关联的外汇结构性存款是可赎回债券。
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