Hong Kong’s Monetary Authority has issued a response to media surveys on the activation of the business with a useless convertible on the part of the connected exchange rate system.
The breath of converting use of a converting junk (CU) HK $ 7.85 to US $ 1 under the linked exchange rate system (Lers) was caused during New York Transactions earlier this morning. HKMA has sold US dollars (USD) for Hong’s $ 9.42 billion HK $ 9.42 billion at the request of banks. The total balance will be reduced to 164.1 billion HK on June 27.
The weak CU was last caused in May 2023.
Mr. Eddie Yue, chief executive of HKMA, said:
“The strong side CU was caused several times in early May, resulting in the total inputs of 129.4 billion HK dollars. The subsequent abundance of HKD market has led to a reduction in HKD differential prices and the HKD requirement for HKD-USD differential rates. Top of dividend payment period, the conversion of HKD receipts that emerged from recent IPO or bond versions of non -local companies for repatriation.
“The public should pay attention to the management of the risk of interest rates and market risks, depending on the direction of the capital flows and the hostel-demand conditions for HKD, the weak CU side can be activated again in the future. Dollar purchases.”