This undated photo shows the building of the Hong Kong Monetary Authority. (PHOTO / IC)
The Hong Kong Monetary Authority bought HK$8.07 billion ($1.03 billion) from the market in New York trading hours to stop the local currency weakening and breaking its peg to the US dollar.
The Hong Kong dollar is pegged to a tight band of between 7.75 and 7.85 versus the US dollar.
The aggregate balance – the key gauge of cash in the banking system – will decrease to HK$191.317 billion on July 20, an HKMA spokeswoman said on Tuesday.
READ MORE: HK goods exports volume down 8.1% YoY in May