Hong Kong’s foreign currency reserve assets fell slightly to nearly US$420 billion (HK$3.28 trillion) at the end of September, according to data from the de facto central bank.
The city’s foreign exchange reserves dropped by US$2.4 billion, or 0.57 percent, to US$419.2 billion in the month, down from US$421.6 billion as of the end of August, data from the Hong Kong Monetary Authority showed on Wednesday.
The amount represents over five times the currency in circulation or about 37 percent of the Hong Kong dollar M3, the HKMA said.
Including unsettled foreign exchange contracts, the foreign currency reserve assets of the city at the end of last month amounted to US$418.9 billion, also down from US$421.1 billion in August.
