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HK Steps Up Purchase of Its Currency in Bid to Defend US Dollar Peg
The Straits Times
|July 03, 2025
Hong Kong's de facto central bank ramped up purchases of the city's currency as it sought to defend a peg that has been strained by volatility in the US dollar.
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HONG KONG -
The Hong Kong Monetary Authority (HKMA) said on July 2 that it bought HK$20.02 billion (S$3.25 billion) of the city's currency after indicative pricing suggested the local dollar touched the weak end of its permitted trading range in late New York trading overnight.
That is more than double the HK$9.42 billion it purchased last week.
The Hong Kong dollar was little changed at 7.8497 on July 2, after the intervention.
The Hong Kong dollar has been through a roller-coaster ride in recent months, swinging between both ends of its trading range. And for the first time since the current band came into effect in 2005, the authorities had to defend the peg on both sides within just one year.
Esta historia es de la edición July 03, 2025 de The Straits Times.
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