The Hong Kong Monetary Authority intervenes for the fourth time in two weeks to maintain the Linked Exchange Rate System.

In the previous few rounds of intervention, the Hong Kong Monetary Authority failed to effectively withdraw liquidity to raise the cost of funds. This is the fourth time within two weeks that the Hong Kong Monetary Authority has intervened to prevent the weak side from falling below the exchange rate's lower limit. The Hong Kong Monetary Authority bought around 13.3 billion Hong Kong dollars on Friday. Based on official data calculations, Hong Kong had previously intervened three times, buying approximately 59 billion Hong Kong dollars in local currency.