HKMA buys HK$8.58 bln from market as currency hits weak end of trading band
HONG KONG, June 23 (Reuters) - Hong Kong's de-facto central bank bought HK$8.58 billion ($1.09 billion) 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$233.308 billion on June 24, an HKMA spokeswoman said on Thursday.
($1 = 7.8497 Hong Kong dollars)
Reporting by Donny Kwok; Editing by Leslie Adler
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