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Hong Kong Invests $202 Million to Safeguard Currency Peg

Byadmin2

May 11, 2022
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Hong Kong dipped into its foreign-exchange reserves for the very first time in 3 years to protect its longstanding dollar peg, acting to fortify the regional currency versus a rising greenback.

The Chinese area’s de facto reserve bank, the Hong Kong Monetary Authority, on Thursday stated it had actually offered U.S. dollars to purchase 1.586 billion Hong Kong dollars, or the equivalent of about $202 million.

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