HKMA sells HK$ 8.37bln into market to keep currency within its band

Once again into the breach for the Hong Kong Monetary Authority

The Hong Kong $ is pegged at 7.80 vs USD but can trade between 7.75-7.85. However under the rules of the peg the HKMA is obliged to step in when either extreme is traded to keep the band intact

This on-going intervention is at the lower end of that band

HKMA says the latest intervention will lift the aggregate balance (the sum of balances on clearing accounts maintained by banks with them) to HK$ 403.16 bln on 26 Oct when the injected funds will be settled.