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As HKD Hits Weak-Side Convertibility Undertaking, HKMA Buys HKD Equivalent to HK$20B Again
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The HKD hit the weak-side convertibility undertaking, prompting the Hong Kong Monetary Authority (HKMA) to purchase HKD equivalent to HK$9.42 billion last Thursday (26th), and again this morning (2nd) during the New York session, selling US$2.55 billion (approximately HK$20.018 billion) at the rate of 7.85 per USD. The aggregate balance of the Hong Kong banking system will decrease by HK$20.018 billion to HK$144.175 billion tomorrow (3rd). AASTOCKS Financial News Website: www.aastocks.com |
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