HONG KONG, June 17 (Reuters) - The Hong Kong Monetary Authority sold HK$775 million ($100 million) into the market in Asia 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$126.537 billion ($16.33 billion) on June 19, an HKMA spokesman said on Wednesday.
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 Donny Kwok; Editing By Andrew Heavens)