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HKMA Steps in for Second Time on July 4, Injecting HK$12.756 Billion into Market
3 day ago /
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Author：小编
On July 4, the Hong Kong dollar's exchange rate persisted in its downward trajectory, once again prompting the activation of the weak-side Convertibility Undertaking at 7.85. During the New York trading session, the Hong Kong Monetary Authority (HKMA) intervened in the market for the second time that day, purchasing a total of HK$29.634 billion worth of Hong Kong dollars and selling US dollars in order to uphold exchange rate stability. This action reduced the Aggregate Balance of the banking system to HK$114.541 billion.
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