Pearl River Delta factories are bracing for a possible hit from the rapid devaluation of Russia’s currency given a rise in trade with the country of 4.1% for the first ten months of the year to HK$23.5 billion (US$3.03 billion), South China Morning Post reported, citing analysts and industry representatives. Among the main exports were telecoms equipment, toys and computers. The rouble has lost about 85% of its value against the US dollar this year, and Russian President Vladimir Putin said this week that the country would remain in economic turmoil for the next two years.
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