HONG KONG - HONG Kong's central bank, the Hong Kong Monetary Authority, confirmed on Wednesday it had injected HK$2.325 billion (S$428 million) into the city's banking system late on Tuesday in New York trading to curb the strength of the Hong Kong dollar.
It was Tuesday's second injection after the authority sold HK$2.325 billion for US dollars as the Hong Kong dollar hit the top end of its trading range.
The Hong Kong dollar is pegged at 7.8 to the US dollar but can trade between 7.75 and 7.85 to the US dollar.
Hong Kong's currency has been boosted by continued unwinding of carry trades, dealers said. -- THOMSON REUTERS
