Hong Kong Monetary Authority Sells HK$35.33 Billion to Defend Linked Exchange Rate
Hong Kong Monetary Authority Sells HK$35.33 Billion to Defend Linked Exchange Rate
According to Zhitong Caijing App, on August 1st, due to the exchange rate triggering the weak-side conversion guarant
According to Zhitong Caijing App, on August 1st, due to the exchange rate triggering the weak-side conversion guarantee, the Hong Kong Monetary Authority sold out US$4.5 billion (bought HK$35.33 billion) to defend the linked exchange rate system. The banking system's cumulative surplus will decrease to HK$790.2 billion by August 5th.