June 13, 2020 / 4:35 AM / a month ago

HKMA sells HK$1.43 bln into market as currency hits strong end of trading band

HONG KONG, June 13 (Reuters) - The Hong Kong Monetary Authority sold HK$1.434 billion ($185 million) worth of Hong Kong dollars during New York trading hours after the local currency hit the strong end of its trading band, according to data released by the HKMA.

The aggregate balance - the key gauge of cash in the banking system - will increase to HK$123.561 billion ($15.94 billion) on June 16, an HKMA spokesman said early on Saturday.

The Hong Kong dollar is pegged in a narrow range of 7.75-7.85 to the U.S. dollar. The HKMA has been conducting sales in recent sessions to weaken the currency to keep it within that trading band. ($1 = 7.7498 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Edwina Gibbs)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below