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Foreign currency reserves hit US$427.4b in April

It dipped from the US$430.8b record in March.

Hong Kong's foreign currency reserve assets dropped to US$427.4b in April from US$430.8b in March.

According to the Monetary Authority, the reserve assets represent over five times the currency in circulation or about 40% of Hong Kong dollar M3.

“Including unsettled foreign exchange contracts, the foreign currency reserve assets at the end of April decreased to US$426.6 billion from March’s US$430.4 billion.” added the Monetary Authority.

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