for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

HKMA buys HK$14.16 bln from market as currency hits weak end of trading band

HONG KONG, Aug 4 (Reuters) - Hong Kong’s de-facto central bank bought HK$14.161 billion ($1.80 billion) from the market in New York trading hours to stop the local currency weakening and breaking its peg to the U.S. dollar.

The Hong Kong dollar is pegged to a tight band of between 7.75 and 7.85 versus the U.S. dollar.

The aggregate balance, the key gauge of cash in the banking system, will decrease to HK$129.293 billion on Aug. 5, an HKMA spokeswoman said on Thursday.

$1 = 7.8493 Hong Kong dollars Reporting by Donny Kwok; Editing by Chris Reese

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up