HKMA buys HK$5.9 bln from market as currency hits weak end of trading band
HONG KONG, May 16 (Reuters) - Hong Kong's de-facto central bank bought HK$5.888 billion ($750 million) from the market 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$319.999 billion on May 18, an HKMA spokesman said on Monday.
($1 = 7.8499 Hong Kong dollars)
Reporting by Donny Kwok and Twinnie Siu; Editing by Philippa Fletcher
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