UPDATE 4-HKMA intervenes as Hong Kong dollar hits weak end of trading band

UPDATE 4-HKMA intervenes as Hong Kong dollar hits weak end of trading band



"I reiterate that the HKMA will buy Hong Kong dollars and sell U.S. dollars at 7.85 level to ensure that the HKD exchange rate will not weaken beyond 7.8500," Norman Chan, chief executive of the Hong Kong Monetary Authority, said in a statement. In U.S. trading hours, the central bank bought HK $2.442 billion of Hong Kong dollars from the foreign exchange market as the…



Source link

Share This Post

Post Comment