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Intervention is HKMA’s second at weak finish of HKD/USD band in lower than per week, with extra probably
Hong Kong’s de facto central financial institution has intervened to guard the forex’s peg with the US greenback on the weak finish for the second time in lower than per week.
The Hong Kong Financial Authority stated it had offered US$2.55 billion early this morning (July 2) at an trade price of HK$7.85 to the dollar. The HKMA stated the sale would cut back its combination steadiness – the measure of whole liquidity in Hong Kong’s banking system – by US$2.55 billion to US$18.36 billion.
The HKMA’s earlier forex intervention
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