This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.  
  • Delicious




Foreign Currency Reserve Assets Down USD900m In HK

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

09 May 2008

Hong Kong's foreign currency reserve assets stood at USD159.9bn in April, down USD900mn on March, the Monetary Authority announced on Wednesday.

Including unsettled forward contracts, foreign currency reserve assets in April hit USD159.9bn. The March figure was USD160.8bn.

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

The assets represent over seven times the currency in circulation, or about 39% of Hong Kong dollar M3.

.

 

 






Write a comment