HK central bank buys US$1.6b to defend dollar peg again
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Hong Kong
HONG Kong's de facto central bank stepped in for a second day to prevent the city's currency from breaking out of the strong end of its pegged range against the US dollar.
The Hong Kong Monetary Authority (HKMA) bought US$1.6 billion on Wednesday at HK$7.75 a dollar, the upper limit of a band that triggers intervention, according to the authority's page on Bloomberg. It intervened on Tuesday for the first time since April, buying US$2 billion in total. The Hong Kong dollar traded at HK$7.75 as of 6.26pm local time, according to data compiled by Bloomberg.
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