HONG KONG, Oct 23 (Reuters) - The Hong Kong Monetary Authority sold HK$2.96 billion ($381.94 million) into the market in New York trading hours after the local currency hit the strong end of its trading band, according to data released by the HKMA.
The aggregate balance - the key gauge of cash in the banking system - will increase by HK$14.973 billion, including HK$12.013 billion sold in Hong Kong trading hours, to HK$387.828 billion on Oct. 27, an HKMA spokesman said early on Friday.
The Hong Kong dollar is pegged in a narrow range of 7.75-7.85 to the U.S. dollar.
The HKMA has been conducting sales in recent sessions to weaken the currency to keep it within that trading band. ($1 = 7.7500 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Jacqueline Wong)
