2024 RT Amination Banner.gif

China Daily

News> Hong Kong> Content
Published: 15:25, July 16, 2022 | Updated: 15:26, July 16, 2022
HKMA buys HK$6.413b from market to defend currency peg
By Reuters
Published:15:25, July 16, 2022 Updated:15:26, July 16, 2022 By Reuters

In this Oct 24, 2008 photo, a pedestrian walks past the building housing Hong Kong Monetary Authority's office in Hong Kong. (TED ALJIBE / AFP)

HONG KONG - The Hong Kong Monetary Authority bought HK$6.413 billion ($816.96 million) from the market in New York trading hours to stop the local currency weakening and breaking its peg to the US dollar. 

ALSO READ: HKMA chief: Currency peg stable, resilient

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$204.865 billion on July 19, an HKMA spokesman said on Saturday.

READ MORE: Finance chief: Hong Kong has no plan to review currency peg

Share this story

CHINA DAILY
HONG KONG NEWS
OPEN
Please click in the upper right corner to open it in your browser !