An employee counts US$100 banknotes at the Hang Seng Bank’s headquarters in Hong Kong on Tuesday, April 16, 2019. Photo: BloombergAn employee counts US$100 banknotes at the Hang Seng Bank’s headquarters in Hong Kong on Tuesday, April 16, 2019. Photo: Bloomberg
An employee counts US$100 banknotes at the Hang Seng Bank’s headquarters in Hong Kong on Tuesday, April 16, 2019. Photo: Bloomberg

Hong Kong reins back local dollar amid hot money influx ahead of city’s blockbuster IPOs, allaying concerns of capital flight

  • The Hong Kong Monetary Authority (HKMA) has stepped into the currency market eight times this year, selling HK$25.58 billion of the local dollar to rein back its strength, as hot money continues to pour into the city
  • In today’s interventions, the HKMA sold a combined HK$4.88 billion of the local currency to bring the exchange rate back below 7.7500 per US dollar

Topic |   Currencies
An employee counts US$100 banknotes at the Hang Seng Bank’s headquarters in Hong Kong on Tuesday, April 16, 2019. Photo: BloombergAn employee counts US$100 banknotes at the Hang Seng Bank’s headquarters in Hong Kong on Tuesday, April 16, 2019. Photo: Bloomberg
An employee counts US$100 banknotes at the Hang Seng Bank’s headquarters in Hong Kong on Tuesday, April 16, 2019. Photo: Bloomberg
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