June 8, 2020 / 9:47 AM / 24 days ago

HKMA sells HK$4.263 bln into market as Hong Kong dollar hits strong end of trading range

HONG KONG, June 8 (Reuters) - The Hong Kong Monetary Authority (HKMA) sold HK$4.263 billion ($550 million) worth of Hong Kong dollars after the local currency hit the strong end of its trading band.

The aggregate balance - the key gauge of cash in the banking system - will increase to HK$108.733 billion on June 10.

The Hong Kong dollar HKD=D3 is pegged at 7.75 to 7.85 per U.S. dollar and has sometimes traded closer to the stronger end of the limit in recent weeks despite rising political uncertainty. ($1 = 7.7500 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Toby Chopra)

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