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HK Monetary Authority Injects HK$2.7 Bln

03-26 17:58 Caijing

Full article in Chinese: http://www.caijing.com.cn/2009-03-25/110128187.html

» The Hong Kong Monetary Authority (HKMA) injected HK$2.7 billion into the exchange market amid strong valuations of the HK dollar, which is expected to boost the banking system surplus to HK$129.7 billion on March 27.

» The Hong Kong dollar is pegged at 7.8 to the U.S. dollar but can trade between 7.75 and 7.85 to the U.S. dollar.

» HKMA is obliged to intervene in the market to keep the trading band intact if the currency hits 7.75 or 7.85.

 

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