Hong Kong Monetary Authority triggers weak-side guarantee again, buying HK$3.376 billion.

The Hong Kong Monetary Authority announced the activation of the 7.85 "weak side exchange guarantee". After the close of trading in New York on August 14, Hong Kong received 33.76 billion Hong Kong dollars. According to the linked exchange rate mechanism, the Hong Kong Monetary Authority sold US dollars to the market at the request of banks and bought Hong Kong dollars, reducing the total balance of the banking system to 537.16 billion Hong Kong dollars on August 15. The last time the Hong Kong dollar triggered the 7.85 weak side exchange guarantee was on August 13, when it received 70.65 billion Hong Kong dollars after the close of trading in New York. Since June, the Hong Kong Monetary Authority has intervened in the market for the Hong Kong dollar 12 times, totaling 119.97 billion Hong Kong dollars, equivalent to 92.7% of the hot money inflows in May.