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BTCC / BTCC Square / Global Cryptocurrency /
Hong Kong Monetary Authority Intervenes to Defend Dollar Peg

Hong Kong Monetary Authority Intervenes to Defend Dollar Peg

Author:
Global Cryptocurrency
Published:
2025-05-03 07:37:01
13
1

The Hong Kong Monetary Authority (HKMA) executed its first currency market intervention since 2020, buying Hong Kong dollars to prevent the local currency from breaching the strong end of its US dollar peg. The move came as the HKMA’s New York desk rapidly purchased HKD at 7.75 per USD, confirmed via Bloomberg sources.

This marks a strategic reversal from 2022-2023 when the authority sold USD to support the weakening HKD NEAR the 7.85 threshold. The latest action underscores the delicate balance required to maintain Hong Kong’s decades-old currency peg system amid global dollar fluctuations.

|Square

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