News Formal

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

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 9 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 66%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

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.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 6. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines