HONG KONG (Reuters) – Hong Kong’s de-facto central bank bought HK$9.577 billion ($1.22 billion) from the market on Tuesday to stop the local currency weakening and breaking its peg to the U.S.
dollar, a HKMA spokesman said.
The Hong Kong dollar is pegged in a tight band of between 7.75 and 7.85 to the U.S. dollar.
The aggregate balance – the key gauge of cash in the banking system – will decrease to HK$253.137 billion on June 23.
($1 = 7.8499 Hong Kong dollars)
(Reporting by Twinnie Siu and Meg Shen; Editing by Andrew Heavens)
