HKMA spends over $2 billion to defend local currency

hong-kong-3-web

The Hong Kong Monetary Authority (HKMA) has spent more than $2 billion over the last two days to support the local currency’s peg to the US dollar, it announced.

Against the backdrop of weaker emerging currencies over the past week, the Hong Kong dollar depreciated to reach the lower limit of its HK$7.75–7.85 against the US dollar early today (August 16). The HKMA has spent HK$16.6 billion ($2.1 billion) over the past two days in an effort to stem the fall, it said in a statement today (August

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: