Tuesday, December 16, 2008

HKMA injects HK$5.813 bln into the market

The Hong Kong Monetary Authority (HKMA), the city's de factor central bank, Monday pumped HK$5.8134 billion into the territory's banking system, in a bid to peg back a rise in the Hong Kong dollar and keep it within official trading limits against the U.S. dollar, sources reported.

Upon the completion of the capital injection, the aggregate balance in the banking system is expected to hit record high of HK$97.195 billion.

The HKMA has injected HK$6.588 billion into the market on Thursday.

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