The Hong Kong HKMA has bought the Hong Kong dollar for the first time since mid -February. Before that, Hong Kong dollar fell below the weak end of the trading interval.
According to Bloomberg, the HKMA bought 7.1 billion Hong Kong dollars on Monday (April 3).The last intervention in the market was February 14, when the Hong Kong dollar fell below the Hong Kong dollar to the Hong Kong dollar with a volatility of $ 1 to 7.75 to 7.85.
The benchmark interest rate in Hong Kong continues to hover at the level below the United States, prompting hedge funds to borrow from Hong Kong dollars at low prices and sell it.Since the end of March, the Hong Kong dollar has been hovering around HK $ 7.85.
The latest intervention of the HKMA will lead to a summary of the banking system decline to HK $ 69.9 billion.This indicator of the liquidity of the interbank market has decreased by more than 80%since its peak in 2021.
