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HKMA sells HK$643 mln in NY hours as currency hits strong end of band

08/24/2020 | 08:11pm EDT

HONG KONG, Aug 25 (Reuters) - The Hong Kong Monetary Authority sold HK$643 million ($83 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 on Tuesday morning.

The aggregate balance - the key gauge of cash in the banking system - will increase to HK$188.383 billion ($24.31 billion) on August 26, said HKMA.

The Hong Kong dollar is pegged in a narrow range of 7.75-7.85 to the U.S. dollar. The HKMA last conducted sales three weeks ago to keep it within this range. ($1 = 7.7500 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Kim Coghill)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN DOLLAR / HONGKONG-DOLLAR (CAD/HKD) -0.01% 6.27825 Delayed Quote.3.16%
EURO / HONGKONG-DOLLAR (EUR/HKD) -0.09% 9.0158 Delayed Quote.-4.47%
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