The Hong Kong Monetary Authority on Wednesday injected 4.65 billion HK dollars into the market to prevent the value of the Hong Kong dollar from rising too much. The move came as the local currency hit 7.75 dollars to the U.S. dollar -- the stronger end of the trading range allowed under the exchange rate mechanism. The buying of U.S. dollars is triggered automatically when the exchange rate hits the upper limit of the trading band under the Currency Board Mechanism. Following the move, the total balances on clearing accounts maintained by banks with the authority will reach 225 billion HK dollars on Friday. This is the 21st time the authority injected money into the market to keep the exchange rate stable since Oct. 20, 2012, and the total amount has exceeded 76 billion HK dollars.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor