HONG KONG (Bloomberg) -- Hong Kong’s de-facto central bank sold the local dollar for the first time since 2015 after the currency rose to the strong end of its trading band.
The Hong Kong Monetary Authority sold HK$1.55 billion (US$200mil) of the city’s currency in exchange for the greenback Tuesday, according to its page on Bloomberg.
The Hong Kong dollar, which had earlier strengthened to its upper limit for the first time since 2016, traded near that level at 7.75 per greenback, according to data compiled by Bloomberg.
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