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Hong Kong Monetary Authority Acts to Defend Linked Exchange Rate, Buys Hong Kong Dollars for First Time in 2023
2 day ago /
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Author：小编
The Hong Kong dollar's exchange rate has been on a downward trajectory, prompting the activation of the weak-side convertibility undertaking at 7.85 Hong Kong dollars to 1 US dollar. To uphold the linked exchange rate system, the Hong Kong Monetary Authority (HKMA) intervened in the market for the first time in 2023, purchasing HK$9.42 billion during the New York trading session. This action has reduced the aggregate balance of the banking system to HK$164.098 billion.
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