Norman Chan the Hong Kong Monetary Authority Chief Executive said today that he will keep the exchange rate fixed after Hong Kong Central Bank intervened to stop the Hong Kong dollar gains against major currencies for the first time.

Chan said that the Hong Kong Monetary Authority pumped HK$3.1 billion ($400 million) into banks to stop the currency's value from rising and to keep it at the fixed rate, worth mentioning that the HK dollar was trading around 7.7501 against the dollar today.