Hong Kong's FX reserves rise slightly to US$442.1 bln in April

Hong Kong's foreign currency reserve assets rose slightly to nearly US$442.1 billion (HK$3.46 trillion) at the end of April, data from the de facto central bank showed on Thursday.

The city's foreign exchange reserves increased by US$11.3 billion, or 2.62 percent, to US$442.1 billion in the month, up from US$430.8 billion as of the end of March, according to the Hong Kong Monetary Authority.

The amount represents over five times the currency in circulation or about 38 percent of the Hong Kong dollar M3, the HKMA said. 

There were no unsettled foreign exchange contracts at end-April, the authority said.

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