Hong Kong Monetary Authority sells HK$1.55 billion as HKD hits strong end of trading range

HONG KONG (Reuters) – The Hong Kong Monetary Authority (HKMA) sold HK$1.55 billion ($200.01 million) into the market as the Hong Kong Dollar strengthened to its trading limit.

The aggregate balance – the key gauge of cash level in the banking system – will increase to HK$64.97 billion on 24 April 2020, a HKMA spokesman said.

Prior to this intervention, the central bank has sold HK$4.34 billion since the currency breached the strong-side limit for the first time since 2015 on Tuesday.

(Reporting by Twinnie Siu and Donny Kwok; Writing by Noah Sin; Editing by Andrew Heavens)