Hong Kong's de facto central bank steps in as currency hits weak end of trading band
The city's currency is pegged in a narrow range of 7.75-7.85 to the US dollar, and the Hong Kong Monetary Authority (HKMA) intervenes at both ends to underpin the peg.
The aggregate balance, the key gauge of cash in the banking system, will shrink by HK$20 billion to HK$144.2 billion Thursday, HKMA said in a statement.
The de-facto central bank sold US$1.2 billion to defend the peg last week. — Reuters
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