HONG KONG (Reuters) – Hong Kong’s de-facto central bank bought HK$12.819 billion ($1.63 billion) from the market in New York trading hours 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$267.922 billion on Tuesday, an HKMA spokesman said on Saturday.
($1 = 7.8494 Hong Kong dollars)
(Reporting by Donny Kwok; Editing by William Mallard)
