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HKMA sells HK$961 mln in NY hours, currency hits strong end of band

09/22/2020 | 07:43pm EDT

HONG KONG, Sept 23 (Reuters) - The Hong Kong Monetary Authority (HKMA) sold HK$961 million ($124 million) in New York trading hours after its 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 to HK$242.49 billion on Sept. 24, an HKMA spokesman said early on Wednesday.

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 = 7.7496 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Tom Hogue)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CANADIAN DOLLAR / HONGKONG-DOLLAR (CAD/HKD) -0.01% 6.2857 Delayed Quote.3.20%
EURO / HONGKONG-DOLLAR (EUR/HKD) 0.06% 9.0219 Delayed Quote.-4.79%
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