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Hong Kong Economy: 
Foreign Currency Reserve Assets Slightly up
Author: 123jump.com Staff
123jump.com
Last Update: 12:35 PM EDT April 08 2008


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The Hong Kong Monetary Authority announced today that the official foreign currency reserve assets of Hong Kong amounted to US$160.7 billion at the end of March 2008 (end-February 2008: US$160.2 billion).

 
The following is the unedited transcript of the news release from Hong Kong Monetary Authority

The Hong Kong Monetary Authority (HKMA) announced today that the official foreign currency reserve assets of Hong Kong amounted to US$160.7 billion at the end of March 2008 (end-February 2008: US$160.2 billion).

Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of March 2008 also stood at US$160.7 billion (end-February 2008: US$160.2 billion).

Hong Kong is the world’s ninth largest holder of foreign currency reserves based on the latest published figures, after Mainland China, Japan, Russia, India, Taiwan, Korea, Brazil and Singapore.

The total foreign currency reserve assets of US$160.7 billion represent over seven times the currency in circulation or about 38% of Hong Kong dollar M3.

Available at:
http://www.info.gov.hk/hkma/eng/press/index.htm
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