ECONOMY | Staff Reporter, Hong Kong

Exchange Fund assets hit $3.9t in July

The assets reflected a $7.3b increase from the figures reported in June.

The Exchange Fund's total assets stood at $3.9122 trillion at the end of July, $7.3 billion higher than at the end of June, the Monetary Authority said.

Foreign currency assets rose $20.1 billion, while Hong Kong dollar assets decreased $12.8 billion.

The Monetary Base at the end of July was $1.6646 trillion, up $1.2 billion on the previous month due to an increase in the outstanding amount of Certificates of Indebtedness.

The amount of Backing Assets increased $4.3 billion to $1.7954 trillion due to an increase in assets through the issuance of Certificates of Indebtedness, valuation gains and interest from investments.

The backing ratio increased to 107.86% at the end of July from 107.68% a month earlier.

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