HKMA exec says no to US$ as Hong Kong's currency

HONG KONG - Hong Kong Monetary Authority Deputy Chief Executive Tony Latter said Monday said there was no need to make the U.S. dollar the city's official currency.

"We have our own currency, the Hong Kong dollar, and I don't see any need to replace it with the U.S. dollar or any other currency," he told reporters Monday.

He was responding to suggestions from economist and Nobel-prize winner Robert Mundell that Hong Kong should dollarised - or make the U.S. dollar its official currency.

Latter a