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  "documentTitle": "Hong Kong Dollar / Hong Kong Monetary Authority (HKMA) (HKD)",
  "authorId": "01_Pershing_Square",
  "authorName": "Pershing Square Capital Management",
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  "presentationDate": "2011-09-14 00:00:00",
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      "text": "Introduction: This memorandum describes a scheme to stabilise the exchange rate of the Hong Kong dollar, and seeks Members' advice as to whether it should be implemented immediately.",
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      "text": "Background: Since 1974 the Hong Kong dollar has been a freely floating currency. Although the Exchange Fund has always possessed the capability of intervention in the foreign exchange market, such intervention has generally been limited to seeking to smooth out short-term fluctuations...",
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      "text": "STABILISATION OF THE EXCHANGE RATE",
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