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Foreign currency reserves hit US$429.1b in February

It contracted from the US$436.5b record in January.

Hong Kong's foreign currency reserve assets dropped to US$429.1b in February from US$436.5 in January.

According to the Monetary Authority, the reserve assets represent over five times the currency in circulation or about 41% of Hong Kong dollar M3.

“Including unsettled foreign exchange contracts, the foreign currency reserve assets at the end of February decreased to US$428.9 billion from January’s US$436.5 billion,” added the Monetary Authority.

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