|Day's Range||0.127 - 0.127|
|52 Week Range||0.1273 - 0.1283|
May 31 (Reuters) - Assets at the Exchange Fund, which is used to back the Hong Kong dollar, totalled HK$4,168.0 billion ($531.09 billion) at the end of April, the Hong Kong Monetary Authority (HKMA) said ...
Hong Kong's Exchange Fund, which is used to back the Hong Kong dollar, posted an investment income of HK$26.1 billion ($3.32 billion) in the first quarter, the Hong Kong Monetary Authority (HKMA) said on Tuesday, its worst performance in five quarters. In 2017, the exchange fund saw its investment income hitting an adjusted record high HK$264.0 billion.
Hong Kong's central bank bought the local currency on Friday, as part of its first intervention in foreign exchange markets since 2015 after the Hong Kong dollar hit the weaker end of its trading range, nudging up a key lending rate that could push borrowing costs higher. "I reiterate that the HKMA will buy Hong Kong dollars (HKD) and sell U.S. dollars at 7.85 level to ensure that the HKD exchange rate will not weaken beyond 7.8500," Norman Chan, chief executive of the Hong Kong Monetary Authority (HKMA), said in a statement.
The Hong Kong Monetary Authority (HKMA) on Thursday bought HK$816 million ($103.95 million) Hong Kong dollars from the currency market as the local currency hit the weaker end of its trading range. According to the HKMA, the latest intervention will reduce the aggregate balance - the sum of balances on clearing accounts maintained by banks with the authority - to HK$178.96 billion on April 16, when the withdrawn funds will be settled. The Hong Kong dollar is pegged at 7.8 to the U.S. dollar, but can trade between 7.75 and 7.85.
Assets at the Exchange Fund, which is used to back the Hong Kong dollar, totalled HK$4,189.6 billion ($533.84 billion) at the end of February, the Hong Kong Monetary Authority (HKMA) said on Thursday. The figure was HK$3.0 billion lower than the total at the end of January, with foreign currency assets increasing by HK$9.8 billion and Hong Kong dollar assets decreasing by HK$12.8 billion, the city's de facto central bank said in a statement. The HKMA said the rise in foreign currency assets was mainly due to the increase in unsettled purchases of securities and the issuance of Certificates of Indebtedness, which were partly offset by mark-to-market reduction in the value of foreign currency portfolios.
The Hong Kong Monetary Authority (HKMA) raised its base rate charged through its overnight discount window by 25 basis points (bps) on Thursday to 2.00 percent, in lockstep with the U.S Federal Reserve. The move came as the Hong Kong dollar fell to a fresh 33-year low, and looked set to test the low end of its trading band, prompting the central bank to reaffirm it would intervene to defend the financial hub's currency peg. The Fed raised interest rates by a quarter of a percentage point overnight in its first hike this year and forecast at least two more hikes for 2018, signalling growing confidence that U.S. tax cuts and government spending will boost the economy and inflation, and lead to more aggressive future tightening.