Foreign currency deposits up 2.2%

And RMB deposits increased 1.7$ to RMB554.8b.

According to the Monetary Authority, overall foreign currency deposits rose 2.2% in October, while renminbi deposits in Hong Kong increased 1.7% to RMB554.8 billion.

The total remittance of renminbi for cross-border trade settlement amounted to RMB195.4 billion in October, compared with RMB239.3 billion in the previous month.

Total deposits with authorised institutions grew 1.9% in October. As demand and savings deposits increased and time deposits were little changed, Hong Kong-dollar deposits rose 1.5% during the month.

Seasonally adjusted Hong Kong-dollar M1 increased 0.7% in October and climbed 13.3% year-on-year. Unadjusted Hong Kong-dollar M3 rose 1.4% during the month and expanded 10% from a year earlier.