The Hong Kong dollar is pegged to a tight band of between 7.75 and 7.85 per U.S. dollar. It has been at the weak end of the band since last week. The aggregate balance, the key gauge of cash in the banking system, will decrease to HK$77.005 billion on Feb. 16, an HKMA spokeswoman said on Wednesday. The authority said on Tuesday it had bought HK$4.223 billion from the market during New York trading hours on Monday. ($1 = 7.8499 Hong Kong dollars) (Reporting by Donny Kwok and Georgina Lee; Editing by Chris Reese and Bradley Perrett)
Messaging: donny.kwok.reuters.com@reuters.net)) (Add background)
HONG KONG, Feb 15 (Reuters) - Hong Kong's de-facto
central bank bought HK$14.868 billion ($1.894 billion) from the
market in New York trading hours to stop the local currency
weakening and breaking its peg to the U.S. dollar.
It was the largest purchase of Hong Kong dollars by the Hong
Kong Monetary Authority (HKMA) since its current round of
interventions began in May 2022.
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