, Hong Kong

Foreign currency reserves balloons to US$500m

Even reserve assents went up.

According to the Monetary Authority, Hong Kong’s official foreign currency reserve assets amounted to US$301.7 billion at the end of October, up US$500 million on the end of September.

Including unsettled forward contracts, foreign currency reserve assets at the end of October stood at US$302.4 billion, while it was US$301.2 billion on the end of September.

The figure represents over eight times the currency in circulation or about 54% of Hong Kong dollar M3

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