The Hong Kong Monetary Authority triggered weak-side exchange rate safeguarding by buying 35.33 billion Hong Kong dollars to defend the peg.
On August 1st, the Hong Kong Monetary Authority sold $450 million (bought 35.33 billion Hong Kong dollars) to defend the linked exchange rate system, as the Hong Kong dollar exchange rate touched the weak side of the exchange guarantee.
On August 1st, due to the weak side exchange guarantee being triggered, the Hong Kong Monetary Authority sold $450 million (bought $35.33 billion Hong Kong dollars) to defend the linked exchange rate system. The banking system's aggregate balance was expected to decrease to $79.02 billion Hong Kong dollars by August 5th.
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