Central Banking

No note solution to fake coins in Hong Kong

HONG KONG - The Hong Kong Monetary Authority appears reluctant to re-introduce the printing of HK$10 notes, despite a surge in counterfeit HK$10 coins last year.

Officers seized 460,835 fake HK$10 coins in 2001 - nearly four times the 115,292 found in 2000, but the authority considered the number to be small.

In 1999, a total of 168,612 fake HK$10 coins were confiscated, 60 per cent more than in 1998.

The authority's non-committal response came after the HSBC's general manager Raymond Or said in