Through the wealth life

Chapter 757 Letting go of exchange restrictions
After He Jin left, Li Guangyu ordered Gan Qin to inform Yuan Tianfan to come to his office. The current exchange rate is estimated to be at a low point, and now is the time for them to make a move.

Li Guangyu is very clear that the Hong Kong Monetary Authority is about to introduce an exchange rate policy to maintain the value of the Hong Kong dollar. In the future, the Hong Kong dollar and the U.S. dollar will implement a fixed exchange rate, and the fixed value is 7.8. Now it is 8.5 Hong Kong dollars to one U.S. dollar. The public's sentiment is still to recover their bank's large losses in the US dollar exchange in the early stage. Now several major banks such as Tianyu Bank and Xiangjiang Bank are going to take action.

After Yuan Tianfan entered the office, he said to Li Guangyu, "Li Sheng, do you have any orders?"

Li Guangyu stood up and said, "Tianfan, sit here."

After sitting down, Li Guangyu and Yuan Tianfan talked about fully liberalizing Hong Kong citizens and various institutions to exchange Hong Kong dollars for U.S. dollars.

As soon as Yuan Tianfan heard it, he knew that Li Guangyu believed that the time was ripe and that the exchange rate of the Hong Kong dollar would rebound in a short time. Now is the time for them to make a move.

He responded: "Li Sheng, our Tianyu Bank has made comprehensive preparations for this. Starting tomorrow, all major business offices in Hong Kong will release restrictions on the exchange of Hong Kong dollars to U.S. dollars for all citizens and financial institutions in Hong Kong. For this action , Our bank also specially transferred some US dollars back from Taiwan, Japan and Southeast Asia, and at the same time, according to your instructions, we also borrowed a total of 100 billion US dollars from Sumitomo Bank, Mitsui Bank, and Fuji Bank for this operation.”

This time, for this action, Li Guangyu specially mortgaged the shares of Xingyue Real Estate Group, Xingyu Game Group, Xiangyu Cultural Group, Hengyu Supermarket Group, and Xiangjiang Air Transport Group to several major banks, and borrowed the 100 billion US dollars.

The borrowing time is one month, and it is for this operation. This time, Li Guangyu wants to wipe out all the investment institutions in Hong Kong dollars.

Citizens of Xiangjiang, as long as they are customers of their major banks, basically completed foreign exchange exchange a long time ago. Even if the Xiangjiang government implements a fixed exchange rate of 7.8 this time, they will basically not lose money, and those who exchange early can still make a little money.

Now those who are still exchanging Hong Kong dollars for foreign exchange are mainly some financial investment institutions, and they use a series of operations to achieve the purpose of profit.

This one-month loan requires 7.8 million U.S. dollars in interest. This is due to the favor of the Sumitomo family and the Li family. Otherwise, the interest rate will be higher. If Li Guangyu knew that the Hong Kong dollar will implement a fixed exchange rate of [-] against the U.S. dollar in the future , he would not take such a risk.

Li Guangyu said: "Tomorrow, your Tianyu Bank will hold a press conference to announce this matter. Be sure to let people from all walks of life in Xiangjiang know about this matter as soon as possible. With the news, the government has already completed the discussion and is waiting for Governor Youde It is estimated that it will be promulgated within a week, and your time is running out."

……

At 09:30 the next morning, Tianyu Bank held a press conference in the press conference hall on the second floor, which was presided over by Xia Xueping, General Manager of Administration Department of Tianyu Financial Group.

"Thank you for coming to the press conference held by Tianyu Bank. This time it is mainly aimed at Tianyu Bank. I only represent Tianyu Financial Group, so please don't mention other groups under Li's group."

Due to the large number of groups under the Li Family Consortium, when some groups hold press conferences, some reporters will always ask some questions that have nothing to do with the group, which makes them more difficult.

In order to avoid such a situation, every time a press conference is held, an explanation will be made in advance, and any questions that have nothing to do with the group and company he represents will be refused to answer.

Now these reporters have also seen and understood the situation of the Li's consortium's press conference. Each major group has its own spokesperson for the press conference. They are generally the general manager of the group's administration department. When the problem is serious, the group president will personally Attend.

As for the spokesperson representing the entire Li Consortium, Gan Qin is usually the spokesperson, and in special cases it will be Li Xuemei. When the two of them act as spokespersons, reporters can ask all questions about the Li Consortium.

Xia Xueping said: "On behalf of our group, I announce today that in order to maintain the stability of Xiangjiang's financial situation and to ensure the foreign exchange costs of Xiangjiang citizens and some financial institutions, after discussions between Li Sheng and the senior management of Tianyu Financial Group, starting today, Tianyu Bank Xiangjiang The exchange of Hong Kong dollars to U.S. dollars is allowed in front of all major business outlets. No matter whether you are a customer of our major banks or not, you can exchange them into foreign exchange (U.S. dollars) at Tianyu Bank.”

Xia Xueping's announcement shocked the reporters who came here. The Hong Kong dollar is still falling. These days, Tianyu Bank has guaranteed that the customers of several major banks can be exchanged into US dollars, and has already lost a lot.

At this time, in order to stabilize the financial situation in Hong Kong, the restrictions are fully relaxed. If the Hong Kong dollar exchange rate cannot be stabilized as soon as possible, Tianyu Bank will suffer heavy losses.

Since the press conference was broadcast live on Jiayi TV, countless people in Xiangjiang were cheering with Xia Xueping's announcement.

The continuous decline of the Hong Kong dollar makes them full of anxiety, especially some people hold a large amount of Hong Kong dollars but cannot convert them into US dollars for a long time, and some financial institutions also have a lot of Hong Kong dollars in their accounts, just because they are not big Bank customers, let them want to exchange foreign exchange has no chance.

The same is true for banks stationed in Hong Kong in some areas. Seeing the depreciation of the Hong Kong dollar in the bank, they are also worried. They hope that the bank will convert all the Hong Kong dollars into U.S. dollars so that they will not lose money on this.

But now their opportunity has come. The Li's consortium is rich and powerful. It has been so many days that they have not seen any depletion of their foreign exchange. This time, they have gone a step further and fully relaxed the exchange restrictions, which is enough to show how strong the Li's consortium's foreign exchange reserves are. .

After seeing the news, these institutions and banks did not pay attention to the news after the press conference. They all held company and bank high-level meetings and arranged to go to Tianyu Bank to exchange US dollars, which also caused them to suffer a big loss this time.

Xia Xueping said: "We Li Sheng and the senior management of the group ask everyone to trust the Hong Kong government. The Hong Kong dollar will be stabilized soon. If it is not particularly urgent to use, everyone can wait. Maybe the exchange rate of the Hong Kong dollar will rebound. It is possible to exchange it now." Not good."

Xia Xueping doesn't care whether people in Xiangjiang believe it or not, she has to say that at the press conference, the loss of these institutions and individuals after exchange has nothing to do with their Tianyu Bank, she and others have already reminded it, it is their own problem if they don't believe it .

Regarding Xia Xueping's remarks, many people expressed doubts about it, especially some financial institutions. They believed that the Li's consortium wanted to maintain the stability of Xiangjiang's financial situation and reduce their own losses, so they said this. The purpose is to let all walks of life stop or reduce the exchange of dollars, so that their pressure on Tianyu Bank will be less.

For this reason, some financial institutions also hastened to contact Tianyu Bank to exchange U.S. dollars with them. They worried that if it was too late, Tianyu Bank’s U.S. dollar reserves would be gone, and they could only watch the opportunity slip away. Know how much foreign exchange reserves Tianyu Bank has.

(End of this chapter)