The official foreign currency reserve assets of Hong Kong expanded in January, the Hong Kong Monetary Authority (HKMA) said on Monday.
The official foreign currency reserve assets of Hong Kong amounted to 432 billion U.S. dollars at the end of January from 424.7 billion U.S. dollars at the end of December last year.
Including unsettled foreign exchange contracts, the foreign currency reserve assets at the end of January 2019 rose to 424.9 billion U.S. dollars from 417.5 billion U.S. dollars at the end of December last year.
The total foreign currency reserve assets of 432 billion U.S. dollars represent about seven times the currency in circulation or 47 percent of Hong Kong dollar M3.
The latest monthly figure is a preliminary one and may be corrected, according to the HKMA.
HKMA added that the December figure had been revised from 424.6 billion U.S. dollars to 424.7 billion U.S. dollars in the latest release.
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