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HKMA buys HK$4.16b from market as currency hits weak end of trading band

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Published Fri, Jul 15, 2022 · 06:40 PM
    • Hong Kong’s de-facto central bank bought HK$4.161 billion (S$743.6 million) from the market on Friday (Jul 15) to stop the local currency weakening and breaking its peg to the US dollar.
    • Hong Kong’s de-facto central bank bought HK$4.161 billion (S$743.6 million) from the market on Friday (Jul 15) to stop the local currency weakening and breaking its peg to the US dollar. photo: bloomberg

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    HONG KONG’S de-facto central bank bought HK$4.161 billion (S$743.6 million) from the market on Friday (Jul 15) to stop the local currency weakening and breaking its peg to the US dollar.

    The Hong Kong dollar is pegged to a tight band of between 7.75 and 7.85 versus the US dollar.

    The aggregate balance - the key gauge of cash in the banking system - will decrease to HK$211.279 billion on July 19, an HKMA spokeswoman said. REUTERS

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