Hong Kong's central bank sells HK$2.79b after HK dollar rises to trading limit

[HONG KONG] The Hong Kong Monetary Authority sold HK$2.79 billion (S$515.5 million) worth of Hong Kong dollars early on Wednesday after the currency hit the strong side of its trading band.

The Hong Kong dollar is pegged to the greenback at 7.75 to 7.85 per US dollar.

The Hong Kong Monetary Authority (HKMA) sold HK$1.55 billion of Hong Kong dollars on Tuesday, after the currency hit the strong side of its dollar trading band for the first time since December 2015.

REUTERS