Foreign currency reserve assets up to US261.4bln

Hong Kong's total foreign currency reserve assets are about 56% of HK dollar M3.

Hong Kong's official foreign currency reserve assets amounted to US$261.4 billion at the end of August, US$700 million more than at the end of July, the Monetary Authority announced on Tuesday.

There were no unsettled forward contracts at the end of August nor the end of July, according to a government report.

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

The total foreign currency reserve assets of US$261.4 billion represent more than nine times the currency in circulation or about 56% of Hong Kong dollar M3.