Hong Kong Dec. Forex Reserves Decrease

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Hong Kong's official foreign currency reserve assets stood at US$255.8 billion at the end of December, down from US$256.3 at the end of November, the Hong Kong Monetary Authority said on Thursday. Including unsettled forward contracts, total reserve assets amounted to the same US$255.8 billion.

Hong Kong is the world's seventh largest holder of foreign currency reserves based on the latest published figures, after mainland China, Japan, Russia, Taiwan, India and Korea.

The total foreign currency reserve assets represented about ten times the currency in circulation or 55% of Hong Kong dollar M3, the HKMA said.

Hong Kong's official foreign currency reserve assets stood at US$255.8 billion at the end of December, down from US$256.3 at the end of November, the Hong Kong Monetary Authority said on Thursday. Including unsettled forward contracts, total reserve assets amounted to the same US$255.8 billion. (Market News Provided by RTTNews)