Money exchange of Hong Kong dollar to US dollar in Wan Chai, as of 9 March, 2018. Photo SCMP / Jonathan Wong

Hong Kong’s monetary authority sells US dollars to prop up local currency, the first intervention since August 2018 as rate gap widened

  • The Hong Kong Monetary Authority said it sold US dollars equivalent to HK$1.5 billion to keep the local exchange rate at above HK$7.8500 per dollar
  • More interventions are likely if carry trade continues to take advantage of an interest rate gap between the local currency and US dollars, the HKMA said
Topic |   Hong Kong Monetary Authority (HKMA)

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Money exchange of Hong Kong dollar to US dollar in Wan Chai, as of 9 March, 2018. Photo SCMP / Jonathan Wong
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