HKMA intervenes by buying HKD 3.93 bn today to defend the peg

Dhwani Mehta FXStreet

Earlier today, Reuters reports that the Hong Kong Monetary Authority (HKMA) intervene by purchasing HKD 2.8bn to defend the peg. The upper bound is at 7.85 for USD/HKD.

Last minutes, the Hong Kong central bank added HKD 3.93 bn to earlier buys, bringing the total to HKD 25.3 bn bought so far in August.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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