ECONOMY | Tony Chua, Hong Kong

HK foreign currency reserves in May down by US$1bn

Hong Kong incurred no unsettled forward contracts at the end of April and May.

Hong Kong's official foreign currency reserve assets amounted to US$275.9 billion at the end of May, down by US$1 billion on April, the Monetary Authority says.

There were no unsettled forward contracts at the end of both months.

The reserve assets represent about nine times the currency in circulation or 54% of Hong Kong dollar M3.

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