Statistics

Hong Kong's exchange fund total assets up HK$159.3b

(Xinhua)
Updated: 2011-03-01 13:25

HONG KONG - Hong Kong's total Exchange Fund assets rose HK$159.3 billion ($20.45 billion) from the end of December, 2010 to HK$2.505 trillion at the end of January, 2011, the city's Monetary Authority said on Monday.

Foreign currency assets increased by HK$126.9 billion and Hong Kong dollar assets rose HK$32.4 billion.

The rise in foreign currency assets was mainly due to increases in unsettled purchases of securities and Certificates of Indebtedness, and valuation gains on foreign currency investments. The increase in Hong Kong dollar assets was mainly due to placements received from fiscal reserves.

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The Currency Board Account shows the monetary base at the end of January was HK$1.0642 trillion, up HK$24.7 billion, or 2.4 percent, from the end of December, 2010.

The rise was mainly due to an increase in Certificates of Indebtedness, which reflected the seasonal demand for banknotes towards Lunar New Year.

The backing assets rose HK$27.7 billion, or 2.5 percent, to HK$1.1488 trillion, mainly attributable to the issuance of Certificates of Indebtedness and exchange gain triggered by a stronger US dollar.

The backing ratio increased from 107.85 percent at the end of December, 2010 to 107.95 percent at the end of January, 2011.