HKMA buys HK$5.9 billion from market as currency hits weak end of trading band

📆 5/16/2022 1:29 PM
📰 ChannelNewsAsia

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HONG KONG : Hong Kong's de-facto central bank bought HK$5.888 billion ($750 million) from the market 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 - t

HONG KONG : Hong Kong's de-facto central bank bought HK$5.888 billion from the market to stop the local currency weakening and breaking its peg to the U.S.

dollar.The aggregate balance - the key gauge of cash in the banking system - will decrease to HK$319.999 billion on May 18, an HKMA spokesman said on Monday.

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