, Hong Kong

Hong Kong forex reserves surged by US$1.6bn in July

The total foreign currency reserve assets at the end of the month amounted to US$279bn.

Hong Kong's official foreign currency reserve assets amounted to US$278.8 billion at the end of July, up US$1.6 billion on June, the Monetary Authority announced on Monday.

Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of July stood at US$279 billion, compared with US$277.2 billion in June.

The total foreign currency reserve assets represent nine times the currency in circulation or 56% of Hong Kong dollar M3.

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