The Hong Kong Monetary Authority triggered the weak-side exchange rate mechanism and bought HK$64.29 billion in the market.
In the early morning of August 5th, due to the weakening of the Hong Kong dollar triggering the weak side exchange guarantee of 7.85 Hong Kong dollars to 1 US dollar, the Hong Kong Monetary Authority entered the market during the New York session, buying 6.429 billion Hong Kong dollars and selling US dollars.
On the early morning of August 5th, due to the weakening of the Hong Kong dollar triggering the weak side exchange guarantee of 7.85 to 1 US dollar, the Hong Kong Monetary Authority entered the market during the New York session, buying 6.429 billion Hong Kong dollars and selling US dollars. The total balance of the Hong Kong banking system will be reduced to 72.461 billion Hong Kong dollars tomorrow.
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