Some of functionality may not work while you disabled JavaScript. Enable JavaScript for better User Exprience.
Access here alternative investment news about Hkma Intervenes As Hong Kong Dollar Hits Weak End Of Trading Band
LPNEWS

Hkma Intervenes As Hong Kong Dollar Hits Weak End Of Trading Band

by reuters.com posted 1year ago 30 views
* Triggers weak-side CU for first time since band set in 2005.: HONG KONG (Reuters) - Hong Kong’s central bank intervened in the market for the first time since 2015 after its currency hit the weaker end of its trading range, nudging up a key lending rate that could push borrowing costs higher. “I reiterate that the HKMA will buy Hong Kong dollars (HKD) and sell U.S. dollars at 7.85 level to ensure that the HKD exchange rate will not weaken beyond 7.8500,” Norman Chan, chief executive of the Hong Kong Monetary Authority (HKMA), said in a statement.

In this article