Aug
15
Hong Kong Spends $2.1 Billion This Week to Defend Currency Peg
By-
Analysts on watch for higher borrowing costs in city
- Intervention this week was the HKMA’s first since May
Hong Kong’s currency interventions continued overnight, taking this week’s total to HK$16.8 billion ($2.1 billion).
The Hong Kong Monetary Authority bought HK$14.6 billion of local dollars on Wednesday, according to the de facto central bank’s page on Bloomberg, after the currency declined to the weak end of its trading band. The aggregate balance will fall to HK$92.6 billion, the first time since 2008 that the measure of interbank liquidity will dip below HK$100 billion…
Hong Kong Spends $2.1 Billion This Week to Defend Currency Peg
