off-the-wire

HKMA buys HK$6.92 bln from market as currency hits weak end of trading band

Kitco Media
By Reuters
Published:
Updated:
Reuters
HONG KONG, April 19 (Reuters) - Hong Kong's de-facto central bank bought HK$6.92 billion ($881 million) from the market on Wednesday to stop the local currency weakening and breaking its peg to the U.S. dollar.


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


The aggregate balance, the key gauge of cash in the banking system, will decrease to HK$49.23 billion on April 20, an HKMA spokesperson said on Wednesday morning. (Reporting by Georgina Lee; Editing by Chris Reese)

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