ADJUSTMENT OF EXCHANGE RATE SPREAD APPLIED TO CALCULATION OF FOREIGN EXCHANGE DELIVERED TO THE CCRD ON ACCOUNT OF EXPORT SETTLEMENTS

In accordance with the 2009 policy arrangements and taking into consideration the difficult situation of our export trade, the MSAR Government has decided to adjust the spread between the exchange rates of export settlements and the exchange market in the calculation of foreign exchange delivered to the CCRD. With effect from 1 February 2009, the aforementioned exchange rate spread applied to non-HKD foreign currencies shall be trimmed down by 50% while the exchange rate spread between MOP and HKD shall remain unchanged. The new measure is meant to alleviate the cost of exporters incurred in export settlements and to support and promote the sustainable development of the local economy.