Hong Kong's central bank sells HK$2.79 billion after HKD rises to trading limit

(Representative image/AFP Photo)

The Hong Kong Monetary Authority sold HK$2.79 billion ($360 million) worth of Hong Kong dollars early on Wednesday after the currency hit the strong side of its trading band.

The Hong Kong dollar is pegged to the greenback at 7.75 to 7.85 per U.S. dollar.

The Hong Kong Monetary Authority (HKMA) sold HK$1.55 billion of Hong Kong dollars on Tuesday, after the currency hit the strong side of its dollar trading band for the first time since December 2015.