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Hong Kong Economy: 
HK Foreign Currency Reserves Fall by US$1.4B
Author: 123jump.com Staff
123jump.com
Last Update: 11:39 AM EDT July 07 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$157.6 billion at the end of June 2008, end-May 2008: US$159.0 billion.

 
The following is an unedited transcript of the news release from Hong Kong Monetary Authority, HK.


The Hong Kong Monetary Authority (HKMA) announced today (Monday) that the official foreign currency reserve assets of Hong Kong amounted to US$157.6 billion at the end of June 2008 (end-May 2008: US$159.0 billion).

Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of June 2008 also stood at US$157.6 billion (end-May 2008: US$159.0 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$157.6 billion represent over seven times the currency in circulation or about 39% of Hong Kong dollar M3.


Available at:

http://www.info.gov.hk/hkma/eng/press/press_f.htm
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