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HKMA sells HK$388 mln in NY hours as currency hits strong end of trading band

HONG KONG, Sept 15 (Reuters) - The Hong Kong Monetary Authority sold HK$388 million ($50.1 million) into the market in New York trading hours after 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$206.696 billion ($26.7 billion) on Sept. 16, an HKMA spokesman said early on Tuesday.

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 = 7.7501 Hong Kong dollars) (Reporting by Donny Kwok; Editing by Jacqueline Wong)

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