The Hong Kong Monetary Authority (HKMA) stepped in to the market again in the afternoon, injecting 3.875 bln hkd to keep the Hong Kong dollar within its trading band.

The latest action is expected to increase the aggregate balance - the sum of balances on clearing accounts maintained by banks with the HKMA - to 61.602 bln hkd on Friday when the latest transactions are settled, the HKMA said.

HKMA sold a total of 4.6 bln hkd for US dollars in two transactions this morning, after injecting 1.163 bln hkd last night.

The Hong Kong dollar is officially pegged at 7.8 to the US dollar but can trade between 7.75 and 7.85.

Source: http://www.afxnews.com

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