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HKMA sells HK$3.1 bln into market as currency hits strong end of trading band

HONG KONG, Sept 17 (Reuters) - The Hong Kong Monetary Authority sold HK$3.1 billion ($400 million) into the market as the local currency hit the strong end of its trading band, according to data released by the HKMA.

The aggregate balance - the key gauge of cash in the banking system - will increase to HK$214.057 billion ($27.62 billion) on Sept. 21, HKMA said on Thursday.

The Hong Kong dollar is pegged in a narrow range of 7.75-7.85 to the U.S. dollar. The HKMA has been conducting sales in recent sessions to weaken the currency to keep it within that trading band. ($1 = 7.7500 Hong Kong dollars) (Reporting by Meg Shen and Donny Kwok; Editing by Alex Richardson)

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