June 5, 2020 / 12:04 AM / a month ago

Hong Kong cbank sells HK$977 mln in New York hours after HKD rises to trading limit

HONG KONG, June 5 (Reuters) - The Hong Kong Monetary Authority (HKMA) sold HK$977 million ($126.06 million) worth of Hong Kong dollars in New York trading hours 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$95.768 billion on June 8, an HKMA spokesman said.

The Hong Kong dollar is pegged to the greenback 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 risks. ($1 = 7.7501 Hong Kong dollars) (Reporting by Twinnie Siu and Donny Kwok; Editing by Muralikumar Anantharaman)

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