HKMA buys HK$2.865 bln from market as currency hits weak end of trading band
HONG KONG, May 13 (Reuters) - Hong Kong's de-facto central bank bought HK$2.865 billion ($365 million) from the market in New York trading hours to stop the local currency weakening and breaking its peg to the U.S. dollar.
The Hong Kong dollar HKD=D3 is pegged to a tight band of between 7.75 and 7.85 versus the U.S. dollar.
The aggregate balance - the key gauge of cash in the banking system - will decrease to HK$329.058 billion on May 16, an HKMA spokesman said on Friday.
($1 = 7.8499 Hong Kong dollars)
Reporting by Donny Kwok; Editing by xxxx
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