News Formal

HKMA buys HK$3.054 bln from market as currency weakens, aggregate balance below HK$100 bln mark

  • 📰 Reuters
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 97%

مصر أخبار أخبار

مصر أحدث الأخبار,مصر عناوين

Hong Kong's de-facto central bank bought HK$3.054 billion ($389.1 million) from the market in New York trading hours to stop the local currency from breaking below its peg to the U.S. dollar.

The action will bring the aggregate balance - the key gauge of cash in the banking system - below HK$100 billion. It will decrease to HK$96.977 billion on Tuesday, a Hong Kong Monetary Authority spokeswoman said on Saturday.While analysts and other market participants have been watching the balance approach the HKD$100 billion mark with a view on potential market stresses, the immediate impact seems to be on interest rates.

The HKMA has bought Hong Kong dollars worth about US$30.7 billion from the market through 40 rounds of intervention since the Federal Reserve began raising rates in March. Its intervention has boosted local yields alongside those on U.S. dollar assets.

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 2. in EG
 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Chinese tech sector leads Hong Kong market reboundBloomberg reported Friday that U.S. regulatory officials finished on-site inspection of Chinese companies ahead of schedule and may leave Hong Kong as early...
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »