Exchange fund foreign assets up

Business | Stella Zhai 15 Aug 2019

The Hong Kong Monetary Authority announced that foreign assets in the city's Exchange Fund rose HK$32.3 billion, or 0.89 percent, to HK$3.69 trillion during July.

Foreign assets represent the external assets of the Exchange Fund, which excludes foreign currency deposits placed with and certificates of deposit issued by banks in Hong Kong.

The monetary base, comprising certificates of indebtedness, government-issued currency notes, and coins in circulation, the balance of the banking system and exchange fund bills and notes issued, amounted to HK$1.63 trillion, or HK$1.41 billion less than June 30.

Claims on the private sector totaled HK$182.1 billion as at the end of July, down 15.83 percent from a month ago, and falling below HK$200 billion for the first time since July 31, 2018.

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