HONG KONG, July 3 (Xinhua) -- A spokesperson for the Hong Kong Monetary Authority (HKMA) said on Wednesday that the HKMA had sold 2.55 billion U.S. dollars (USD) to maintain the stability of the HKD exchange rate.
The Hong Kong dollar (HKD) again triggered the weak-side Convertibility Undertaking (CU) at 7.85 per U.S. dollar during the New York trading hours Tuesday afternoon (Wednesday morning Hong Kong time).
The Aggregate Balance will reduce to 144.175 billion HKD on Thursday.
Under the Linked Exchange Rate System implemented in Hong Kong since 1983, the HKD trades within a normal fluctuation range of 7.75 HKD (strong-side CU) to 7.85 HKD (weak-side CU) per USD.
On June 26, the Hong Kong dollar touched the weak-side CU for the first time in two years, prompting the HKMA to purchase 9.42 billion HK dollars that day. The strong-side CU was triggered several times in early May, resulting in total inflows of around 129 billion HKD, according to HKMA.■
