Fake rumor on new law to cap cash withdrawal amount
The Hong Kong Monetary Authority said rumors about a new regulation to cap the daily amount of cash withdrawal from banks is "fake and unfounded."
This came after netizens spread rumors that the authority will enact a law to limit cash withdrawal to less than HK$6,000 per individual each day and HK$42,000 per individual each week by the end of this month.
But the authority said in a statement yesterday that the SAR banking system in robust and sound.
“Banks have sufficient supply of banknotes to meet the needs of the public,” it said.