June 10, 2020 / 9:36 AM / a month ago

HKMA sells HK$2.209 bln into market as currency hits strong end of trading band

HONG KONG, June 10 (Reuters) - The Hong Kong Monetary Authority (HKMA) sold HK$2.209 billion ($285.03 million) on the currency markets on Wednesday after the local unit hit the strong end of its trading band.

The aggregate balance - the key gauge of cash in the banking system - will increase to HK$120.616 billion on June 12.

The Hong Kong dollar HKD=D3 is pegged at 7.75 to 7.85 per U.S. dollar and has sometimes traded closer to the stronger end of the limit in recent weeks despite rising political uncertainty. ($1 = 7.7500 Hong Kong dollars) (Reporting by Twinnie Siu and Donny Kwok; Editing by xxx)

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