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 From Hong Kong's Information Services Department
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July 7, 2004
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Finance

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Foreign currency reserve assets rise
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Including unsettled forward contracts, Hong Kong's official foreign currency reserve assets amounted to US$120.8 billion at the end of June, US$700 million higher than at the end of May.

 

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.

 

The total reserve assets represent over six times the currency in circulation or about 46% of the Hong Kong dollar M3.