UPDATE 5-HKMA intervenes as Hong Kong dollar hits weak end of trading band

UPDATE 5-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 HKMA stepped into the currency market and bought HK $3.038 billion in Hong Kong dollars on Friday, as…



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