Hong Kong's official foreign-currency reserve assets rose to USD159.9bn in January, up USD7.2bn on December, the Hong Kong Monetary Authority announced on Monday.
Including unsettled forward contracts, foreign-currency reserve assets stood at USD159.9bn in January.
The Authority explained that the increase was mainly due to the purchase of foreign currencies with Hong Kong dollars and an increase in Certificates of Indebtedness, which reflected the seasonal demand for banknotes around the Lunar New Year.
Hong Kong is the world's ninth-largest holder of foreign-currency reserves after the Mainland, Japan, Russia, India, Taiwan, South Korea, Brazil and Singapore.
The total foreign-currency reserve assets of USD159.9b represent more than seven times the currency in circulation, or about 38% of Hong Kong dollar M3, the HKMA concluded.
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