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Exchange Fund Foreign Assets Fall HKD15.6bn

by Mary Swire, for LawAndTax-News.com, Hong Kong

21 July 2008

Exchange Fund foreign assets in Hong Kong fell HKD15.6bn to HKD1.18 trillion at the end of June, the country's Monetary Authority announced last week.

The Monetary Base, comprising Certificates of Indebtedness, Government-issued currency notes and coins in circulation, the Aggregate Balance of the banking system and Exchange Fund Bills and Notes issued, amounted to HKD326.2bn.

Claims on the private sector in Hong Kong amounted to HKD58.3bn.

Foreign liabilities, representing mainly obligations under repurchase agreements, amounted to HKD1.6bn.

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