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Hong Kong Monetary Authority (HKMA) Steps in Twice to Stem HKD Rise
Wednesday, 19 November 2008 05:28:14 GMT
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The Hong Kong Monetary Authority (HKMA) has acted yet again to stem the HKD rise, according to Reuters, after the central bank acted late Tuesday, Wednesday morning and again this afternoon to protect the currency peg at 7.7500. The central bank injected HK$3.875 bln in the latest action according to Reuters. The HKMA was also very active last week attempting to protect the HKD peg, intervening on Friday as well as earlier in the week.
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