HONG KONG: The Hong Kong Monetary Authority (HKMA) bought the local currency for the first time since the current trading band was imposed in 2005, after the exchange rate sank to the weak end of its permitted range.
The de facto central bank purchased a total of HK$3.258bil (US$415mil), including HK$816mil it bought earlier on Thursday, according to the HKMA’s page on Bloomberg.
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