Hong Kong's Finance Secretary emphasized the administration's commitment to the dollar currency peg, even as the rising greenback and China volatility puts it under renewed pressure.
"The Hong Kong dollar got a little weaker but we're still on the strong side above 7.80 [and we see] this is as a natural process," said John Tsang, Hong Kong's Finance Secretary, to Asia Squawk Box.
"We've seen ups and downs [but] there is absolutely no need to make any changes at all," he added. "It (the currency peg) has been serving Hong Kong's economy well."
Hong Kong Monetary Authority has pegged its rate of exchange to the U.S. dollar ranging from HK$7.75 to HK$7.85 to one U.S. dollar, for the past 32 years. The local currency is used in both Hong Kong and Macau.