this post was submitted on 23 Oct 2023
200 points (99.5% liked)

Mildly Interesting

17062 readers
16 users here now

This is for strictly mildly interesting material. If it's too interesting, it doesn't belong. If it's not interesting, it doesn't belong.

This is obviously an objective criteria, so the mods are always right. Or maybe mildly right? Ahh.. what do we know?

Just post some stuff and don't spam.

founded 1 year ago
MODERATORS
marcar
[email protected]
WhatsHerBucket
[email protected]
200
Banks in Hong Kong can print their own money. There are 8 different designs in circulation. (lemmy.world)
submitted 11 months ago by NateNate60 to c/mildlyinteresting
11 comments fedilink hide all child comments
 

Before someone asks why there isn't insane inflation from banks printing an infinite amount of money for themselves, the Hong Kong dollar is pegged to the US dollar. In order to be allowed to print HKD, banks must have an equivalent amount of USD on deposit.

you are viewing a single comment's thread
view the rest of the comments
[–] School_Lunch 17 points 11 months ago (2 children)

Seems like that would make it easier to counterfeit. How do they keep up to date with which designes are valid?

[–] j891319 13 points 11 months ago* (last edited 11 months ago) (1 children)

From living in HK, they all look very similar / have similar security features so most people are used to the different designs. Might be easier to scam tourists tho.

[–] NateNate60 10 points 11 months ago

There was an infamous scam a while ago where Zimbabwean $1,000 notes were the same shade of orange as Hong Kong $1,000 notes.