HKMA intervenes to defend currency peg

The Hong Kong Monetary Authority, has spent HK$300 million (US$40 million) defending its currency peg against speculators in the past week. Newly-appointed deputy chief William Ryback said it was comfortable with the position taken and does not see it as a major problem for Hong Kong.

Source: Channel News Asia

Hong Kong's defacto central bank, the Hong Kong Monetary Authority, has spent HK$300 million (US$40 million) defending its currency peg against speculators this past week.

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