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HK's foreign currency reserves hit US$122b
(Xinhua)
Updated: 2004-05-07 22:20
Hong Kong's foreign-currency reserve assets amounted to US$122.1 billion at
the end of April, a dip of US$1.7 billion since March, Hong Kong Monetary
Authority said Friday.
The volume includes unsettled forward contracts.
In terms of foreign currency reserves ranking, Hong Kong is the world's
fifth-largest holder of foreign-currency reserves, after Japan, the Chinese
Mainland, China's Taiwan and the Republic of Korea.
The total foreign-currency reserve assets is about seven times the currency
in circulation, or 46 percent of Hong Kong dollar M3, which measures the total
amount of currency in circulation plus private and public sector's time deposits
and sight deposits held by public sector.
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