Currency weightings of Round Dollar preliminarily determined
Hong Kong, 26 th July 2021 - RD Wallet Technologies Limited (RD Wallet) today announced the preliminary plan of Round Dollar’s currency composition and weightings.
Established last year, RD Wallet is a digital wallet payment company that makes use of the latest financial technology. RD Wallet was founded with the goal of helping trading companies address the pain points of difficult and slow crossmore easily. border payments, and enabling businesses to manage their foreign exchange risks more easily.
The RD Wallet will support currencies commonly used in regional trade, including USD, RMB, JPY and HKD. In addition, RD Wallet will also launch the allnew accounting and payment unit "Round Dollar". Composed of RMB, JPY and HKD with reference to a specified weight, Round Dollar will off new alternative to manage their exchange rate risks.
The reference weight of Round Dollar’s composition, according to RD Wallet's preliminary plan, is approximately 47% for RMB, 32% for JPY and 21% for HKD. Based on last week's mark each Round Dollar unit would consist of 47 RMB, 550 JPY and 25 HKD.
Weightings of the three currencies in the Round Dollar basket were determined with reference to the three economies’ proportion (in value) in the regional trade volume of Asia, their foreign exchange reserve adequacies relative to imports, their net international investment positions, as well as their liquidity in the foreign exchange market (FX transaction volumes).
The preliminary plan will be subject to a final confirmation prior to the official launch of RD Wallet. The currency composition and weightings of Round Dollar will also be regularly evaluated, and revisions will be made when needed.
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