Hong Kong's foreign currency reserve assets amounted to US$123.5 billion at the end of February, a dip of $1 billion on January.

The Monetary Authority said including unsettled forward contracts, foreign currency reserve assets also went down US$1 billion from January to $123.5 billion.

The total foreign currency reserve assets of US$123.5 billion represent about seven times the currency in circulation or 44% of Hong Kong dollar M3.

In terms of foreign currency reserves ranking, Hong Kong is the world's fifth largest holder of foreign currency reserves, after Japan, the Mainland, Taiwan and South Korea.