Hong Kong’s central bank sells HK$2.33 bln after HKD rises to trading limit

HONG KONG, April 27 (Reuters) – The Hong Kong Monetary Authority (HKMA) sold HK$2.325 billion ($300 million) worth of Hong Kong dollars on Monday after the local currency hit the strong side of its trading band.

The aggregate balance – the key gauge of cash in the banking system – will increase to HK$74.041 billion on April 29, a HKMA spokesman said.

The Hong Kong dollar is pegged to the greenback at 7.75 to 7.85 per U.S. dollar. ($1 = 7.7500 Hong Kong dollars) (Reporting by Twinnie Siu and Donny Kwok, editing by Louise Heavens)