HKMA buys HK$9.255 billion from market as currency hits weak end of trading band
Reuters
Published Jun 14, 2022 08:14PM ET
HONG KONG (Reuters) - Hong Kong's de-facto central bank bought HK$9.255 billion ($1.18 billion) from the market in New York trading hours to stop the local currency weakening and breaking its peg to the U.S. dollar.
The Hong Kong dollar is pegged to a tight band of between 7.75 and 7.85 versus the U.S. dollar.
The aggregate balance - the key gauge of cash in the banking system - will decrease to HK$306.337 billion on June 16, an HKMA spokeswoman said on Wednesday.
($1 = 7.8499 Hong Kong dollars)
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Written By: Reuters
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