The de facto central bank said it had bought HK$5.81 billion (US$745 million) worth of the U.S. currency, after it hit its upper trading band of HK$7.75, an HKMA spokeswoman said.

Under the city’s pegging system, the Hong Kong dollar is set at 7.80 to the U.S. dollar, but is allowed to trade between 7.75 and 7.85.

The HKMA has now bought a total of 16.55 billion dollars’ worth of the U.S. currency this month to add liquidity to the system and defend the peg.

Tuesday’s injection increases Hong Kong’s aggregate balance to US$48.82 billion.

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