HK records US$442.9b in foreign currency reserve at end-August

Hong Kong's foreign currency reserve assets were recorded at about US$442.9 billion (HK$3.45 trillion) at the end of August, down US$5 billion from that at the end of July, data from the de facto central bank showed on Monday.

The amount represents over five times the currency in circulation or about 37 percent of the Hong Kong dollar M3, the Hong Kong Monetary Authority said. 

There were no unsettled foreign exchange contracts at the end of August and July this year, according to the HKMA.

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