Chapter 1482 Chapter 148.9 Exchange Rate Plummets

What is supposed to come will still come.

Yin Jun's strength in Xiangjiang, as well as Kylin TV's sky-high advertising fees, cannot cover up the current situation that Xiangjiang is at the end of its rope.

Just a week ago, the Hong Kong Banking Association announced that it would raise the deposit interest rate by 1.5%, reaching a historical high of 7%.

Many people may not understand it if it is said to be 7%, but if it is said that the annual interest rate is 7%, many people will suddenly realize it.

so tall! ?

Alipay, WeChat, JD.com, Suning, etc. are only around 4.5%. Although there were short-lived happy days of 6% before, they were still suppressed by the five major commercial banks. To maintain 4.5% is already the best effort of many electronics groups. The result we strive for.

The same is true for Xiangjiang today. Even in 1973 and 1974, it was never at such a high level.

The key is that the most favorable loan interest rate in Xiangjiang has plummeted to about 10%.

The two benefits added together still failed to save the decline in the Hong Kong dollar exchange rate.

A week later, on September 14, the exchange rate of the Hong Kong dollar against the US dollar continued to decline without hesitation, falling to 7.89 Hong Kong dollars per US dollar.

After the Iron Lady's shocking fall, the Hong Kong dollar depreciated by nearly one-third in one year!

As of September 1st, the exchange rate was still 7.3!

It stands to reason that this should be a very underestimated value of the Hong Kong dollar, which has deviated far from the market trajectory.

But the people didn't care about this at all. They just thought that the Hong Kong dollar was about to be destroyed, and they started a new round of crazy selling of Hong Kong dollars and went to banks to exchange for US dollars.

Xiangjiang Commercial Bank also ushered in a new round of runs.

But this time the run was not about withdrawing cash, but about exchanging Hong Kong dollars for US dollars.

Xiangjiang's financial policy is based on the principle of free trade. Everything follows the laws of the market. When customers come and they want to exchange currency, you have to handle it.

If it doesn't work, the only option is to close it urgently or suspend the business.

Then the reputation of your bank will be affected, everyone will be disgusted with you, and business may be significantly reduced in the future.

But many times, for the survival of the bank, you have no choice but to suspend these businesses. Therefore, many small and medium-sized banks in Hong Kong have recently limited the amount of U.S. dollars exchanged every day.

That is to say, HSBC, Standard Chartered Bank and Hang Seng Bank have no restrictions.

But according to the internal situation, they are also actively preparing countermeasures and have to make some changes.

Xiangjiang Commercial Bank still has restrictions. Others have a daily limit of US$100-500, but the limit they give is US$300-800.

This is much more than other banks, causing them to have many more people queuing up to exchange US dollars every day.

I don’t know where the news came from, but some newspapers in Xiangjiang began to report on the problem of the funds in Yin Jun’s hands.

"Yin Jun has secretly converted all the funds in his hand into US dollars!?"

"Master Jun is not optimistic about the future of the Hong Kong dollar and has a huge sum of US$2 billion in his hands!"

"Did even the pride of Xiangjiang give up on Xiangjiang?"

"Even Yin Jun is quitting, what are you waiting for? What are you doing with Hong Kong dollars?"

"How to choose between Hong Kong dollars and US dollars? Yin Jun has given us the best answer!"

"..."

Looking at these reports, Yin Jun smiled bitterly.

He knew that he had a large amount of US dollars in his hand, and there was no way he could hide it from others.

Just because no one has said it before, doesn’t mean that no one has ever said it.

Speaking out now at such a critical time must have ulterior motives.

On the one hand, it is related to speculation on the exchange rate, on the other hand, it is also pouring dirty water on Yin Jun.

Haven't you always said you were optimistic about Xiangjiang?

Don’t you think Xiangjiang will definitely survive?

Why have all your liquid funds been converted into US dollars?

Isn't this about running away?

Of course, these are not big problems.

For example, when Le Yiling, CEO of Kirin Group, went to the Governor's Mansion for a meeting, he sneered when a reporter asked about this question.

"Most of our Kirin Group's income is in U.S. dollars. We don't hold U.S. dollars, so do we still hold Japanese yen?"

"Why don't you change it into Hong Kong dollars? Are you an idiot? Our external payments and various debt repayments are all settled in US dollars! What an idiot must I be to convert US dollars into Hong Kong dollars first? Keep it in your account and then convert it into US dollars when you need to use it? You are such an amateur, why are you still a financial reporter?"

"I would like to reiterate that our Kirin Group has absolute confidence in Hong Kong! This confidence is not proven by holding U.S. dollars or Hong Kong dollars! This is related to our business strategy and does not represent our position!"

"..."

Well, Sister Le was so furious that the news on Kylin TV was broadcast that night for everyone in Xiangjiang to see.

Don't tell me, if you speak softly, sometimes it's not easy for people to believe you.

But this fiery and impatient attitude is actually more reassuring.

What makes Yin Jun feel strange is that the Xiangjiang government has not taken any substantive measures to deal with all this chaos.

The Governor and the Director of the Financial Secretary simply spoke to let everyone maintain confidence in Hong Kong, but did not take any measures.

If Yin Jun hadn't known that they would take ruthless measures in October, he would have thought that these officials had given up on Xiangjiang.

However, the exchange rate issue is actually not the hottest topic in Hong Kong recently.

The hottest and most tense topic in Hong Kong is the fourth round of negotiations that is about to be held in Beijing.

From the 18th to the 24th, for a whole week, the two parties will conduct another round of negotiations, hoping to obtain a satisfactory result for both parties.

The three major TV stations in Hong Kong, including Kylin TV, have sent out an interview crew of dozens of people, hoping to understand and understand the negotiation process at the closest distance.

In fact, in the third round of negotiations, there was no more tense atmosphere, nor did they start getting angry at the slightest disagreement. However, after calming down, everyone still found that there were irreparable differences.

So even though everyone discussed a lot of things and put forward various ideas, there was still no progress in the third round.

The fourth round of negotiations that everyone is looking forward to now is mainly because both China and Britain have seen the current chaos in Hong Kong. In order to get Hong Kong back on track as soon as possible, a breakthrough in negotiations must be made.

In recent TV programs, many experts have discussed the fourth round of negotiations.

More than 80% of experts believe that there will definitely be a breakthrough in this round of negotiations, at least signs of breaking the ice, otherwise Hong Kong will really be doomed.

These experts are not only from Hong Kong, but also from foreign countries.

Everyone's opinions are so unified that the people are extremely anxious and looking forward to good news.

Of course, a reporter stopped Yin Jun and asked him what he thought.

Yin Jun wanted to tell them that not only did this round of negotiations make no progress, it would instead deal a heavier blow to Xiangjiang, and it would also be the beginning of Xiangjiang's deepest ebb.

But in this case, the young man couldn't say it at all.

Firstly, there is no way to explain why he knew it. Secondly, with Yin Jun's current status, if he said so, Xiangjiang would not have to wait a week, and chaos would start right now.

It’s better to have fewer chaotic days.

Even if you experience hardship, one day less is just one day.

So as a last resort, Yin Jun could only say that he was cautiously optimistic about this negotiation and hoped that they could reduce their differences and settle things as soon as possible, which would be good for everyone.

Yin Jun's answer was relatively conservative.

In addition to experts, wealthy people and justices of the peace in Hong Kong have expressed optimism about the fourth round of negotiations.

Rather than being optimistic, in fact, in Yin Jun's opinion, they were expressing their urgent hope for the future.

They can no longer stand the current atmosphere in Xiangjiang. If this continues, Xiangjiang's economy will not live in a miserable state, but will completely collapse.

The common people have nothing to lose. The middle class will at most be immigrants and leave. But if they, the top people in society, leave Hong Kong, what will they have left?

Look at every financial crisis and economic crisis, who are the immigrants from Hong Kong?

Among all the real people at the top of society, which one is an immigrant?

These are smart people. They don’t leave Xiangjiang because they believe that Xiangjiang will be better than other places.

Therefore, their various voices now are actually calling on both parties to let us settle down quickly and live a good life, otherwise no one will benefit.

Perhaps this mentality of the super rich and celebrities has also affected ordinary people and increased their expectations for the new round of negotiations.

But in Yin Jun's eyes, it was just a little dangerous.

The higher their expectations for this negotiation, the greater their disappointment will be when the results are unsatisfactory, and many crazy measures will be taken.

The darkest moment of this round of financial crisis emerged at this time.

It took more than a year for things to return to normal.

The various economic losses caused in this year and more are more than double those in the previous year.

What Yin Jun was waiting for was actually this time.

The general trend is something that ordinary people cannot influence, and even those at the top find it difficult to influence it.

Everyone can only follow the general trend, and the big guys can add their own opinions and opinions, resulting in some changes.

Businessmen like Yin Jun can only follow the trend.

If Yin Jun wants to change the current situation in Xiangjiang, wants to buck the trend and speculate on real estate, and bring Xiangjiang's real estate and economy back to life, then he is definitely looking for death.

Not only will it not save Hong Kong's economy, but it will involve itself.

Compared to saving all sentient beings, Yin Jun prefers to realize his ideals.

From now on, the next year will be the most important time for Yin Jun, who has not made any big moves in Xiangjiang for almost two years.

If done well, the century-old foundation of the Kirin Group will be completely established.

With a solid rear base, Yin Jun has the greatest guarantee for his battles around the world!