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Foreign currency reserves hit US$419.3b in July

It rose from the US$416.3b record in June.

Hong Kong’s foreign currency reserve assets rose to $3.26t (US$419.3b) in July 2024, compared to last month’s $3.24t (US$416.3b).

The Monetary Authority said the reserve assets represent over five times the currency in circulation or about 39% of Hong Kong dollar M3.

“Including unsettled foreign exchange contracts, the foreign currency reserve assets of Hong Kong at the end of July 2024 amounted to US$418.7 billion,” added the Monetary Authority.

($1 = US$0.12)
 

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