Photo by Andres Garcia on Unsplash

Foreign currency reserves hit US$436.9b in January

It expanded from the US$436.9b record in December.

Hong Kong's foreign currency reserve assets rose to US$436.9b in January from US$424 billion in December 2022.

According to the Monetary Authority, the reserve assets represent over five times the currency in circulation or about 42% of Hong Kong dollar M3.

“There were no unsettled foreign exchange contracts at the end of January,” added the Monetary Authority.

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