HKMA intervenes again to defend Hong Kong dollar peg

PUBLISHED : Thursday, 01 November, 2012, 1:40pm
UPDATED : Thursday, 01 November, 2012, 1:40pm

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The Hong Kong Monetary Authority (HKMA) stepped into the currency market again on Thursday by selling HK$2.3 billion (US$296.77 million) in Hong Kong dollars as the local currency repeatedly hit the top end of its trading range.  It was the seventh intervention from the HKMA in two weeks.