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Banks

Hong Kong Monetary Authority sells HK$1.55 billion as HKD hits strong end of trading range

HONG KONG (Reuters) - The Hong Kong Monetary Authority (HKMA) sold HK$1.55 billion ($200.01 million) into the market as the Hong Kong Dollar HKD=D3 strengthened to its trading limit.

The aggregate balance - the key gauge of cash level in the banking system - will increase to HK$64.97 billion on 24 April 2020, a HKMA spokesman said.

Prior to this intervention, the central bank has sold HK$4.34 billion since the currency breached the strong-side limit for the first time since 2015 on Tuesday.

Reporting by Twinnie Siu and Donny Kwok; Writing by Noah Sin; Editing by Andrew Heavens

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