June 5, 2020 / 9:32 AM / a month ago

Hong Kong c.bank sells HK$3.875 bln after HKD rises to trading limit

HONG KONG, June 5 (Reuters) - The Hong Kong Monetary Authority (HKMA) sold HK$3.875 billion ($500 million) worth of Hong Kong dollars after the local currency hit the strong end of its trading band.

The aggregate balance - the key gauge of cash in the banking system - will increase to HK$99.643 billion on June 9, an HKMA spokesman said.

The Hong Kong dollar 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 Kevin Liffey)

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