HKMA buys $ 395 mln to curb Hong Kong dollar strength
The Hong Kong Monetary Authority stepped into the currency market early on Wednesday morning as the local currency hit the upper limit of its peg to the U.S. dollar, the fourth intervention in less than a week.
The Hong Kong Monetary Authority (HKMA) bought US$ 395 million to maintain stability in the local currency.
It bought a total of US$ 855 million at the strong-side of the trading range of HK$ 7.75 to the U.S. dollar during two rounds of intervention on Tuesday.