HONG KONG (Reuters) -Hong Kong’s de-facto central bank bought $7.8 billion (HK$60.5 billion) against the Hong Kong dollar on Tuesday from the market to stop the local currency strengthening and breaking its peg to the U.S. dollar.
The Hong Kong dollar is pegged to a tight band of between 7.75 and 7.85 versus the U.S. dollar.
The aggregate balance, the key gauge of cash in the banking system, will increase by HK$116.6 billion on May 7, a Hong Kong Monetary Authority spokesperson said on Tuesday.
(Reporting by Jiaxing Li; Editing by Muralikumar Anantharaman)
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