The Exchange Fund's foreign assets dipped $9.3 billion to $889.9 billion in May, the Monetary Authority says.

The monetary base, comprising certificates of indebtedness, government-issued currency notes and coins in circulation, the banking system aggregate balance and Exchange Fund bills and notes issued, stood at $303.6 billion at the end of May.

Claims on the private sector here hit $50.9 billion, while foreign liabilities, representing mainly obligations under repurchase agreements, amounted to $2.9 billion.