HKMA in HK$12 billion currency cooling measure

The Hong Kong Monetary Authority stepped into the currency market again yesterday to weaken the Hong Kong dollar as the rush of "hot money" continues to flow into the city.

The de facto central bank intervened twice, selling a total of HK$12.013 billion in Hong Kong dollars, in a move to maintain the exchange rate within its official limits.

The latest intervention increased Hong Kong's aggregate balance - the sum of balances on clearing accounts maintained by banks with the authority - to HK$220.341 billion.

via Business feed http://www.scmp.com/business/banking-finance/article/1103292/hkma-hk12-billion-currency-cooling-measure