HKMA buys HK$9.58 billion from market as local currency hits weak end of trading range

📆 21/6/2022 8:33 PM
📰 ChannelNewsAsia

⏱ Reading Time:
14 sec. here
2 min. at publisher
📊 Quality Score:
News: 9%
Publisher: 66%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

HONG KONG : Hong Kong's de-facto central bank bought HK$9.577 billion ($1.22 billion) from the market on Tuesday to stop the local currency weakening and breaking its peg to the U.S. dollar, a HKMA spokesman said.The Hong Kong dollar is pegged in a tight band of between 7.75 and 7.85 to the U.S. dollar.

HONG KONG : Hong Kong's de-facto central bank bought HK$9.

577 billion from the market on Tuesday to stop the local currency weakening and breaking its peg to the U.S. dollar, a HKMA spokesman said.The aggregate balance - the key gauge of cash in the banking system - will decrease to HK$253.137 billion on June 23.

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines