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ECONOMY | Tony Chua, Hong Kong
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August foreign currency reserves surge by US$600mn

The figure represents about nine times the currency in circulation.

Hong Kong's official foreign currency reserve assets amounted to US$279.4 billion at the end of August, up US$600 million on the end of July, the Monetary Authority announced in its report on Wednesday.

Including unsettled forward contracts, the foreign currency reserve assets at the end of August stood at US$279.4 billion.

The figure represents about nine times the currency in circulation, or 55% of Hong Kong dollar M3.

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