HKMA dismisses cash limit rumours as tensions escalate

Hong Kong protests August 2019
Protesters in Hong Kong, August 2019
Studio Incendo

Hong Kong’s de facto central bank said it would not implement new regulations to cap the daily amount of cash withdrawals from banks, as social unrest escalates in the city.

“The message is totally fake and unfounded. The Hong Kong banking system is robust and sound,” the Hong Kong Monetary Authority said in a statement on October 6. “Banks have sufficient supply of banknotes to meet the needs of the public.”

The HKMA also reassured the market that there will be no foreign exchange controls

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