HKMA sells HK$4.495 bln to keep Hong Kong dollar in trading band

October 8, 2015 11:53 PM

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HONG KONG Oct 9 The Hong Kong Monetary Authority (HKMA) stepped into the currency market and sold HK$4.495 billion ($580 million) in Hong Kong dollars overnight during New York trading hours as the local currency hit the strong end of its trading range.

The HKMA said the latest intervention will lift the aggregate balance - the sum of balances on clearing accounts maintained by banks with the authority - to HK$365.97 billion on Oct. 13, when the injected funds will be settled.

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