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	news.gov.hk
	From Hong Kong's Information Services Department

January 7, 2005

Investment

Foreign currency reserves at US$123.6b

Hong Kong's foreign currency reserve assets amounted to US$123.6 billion at the end of December 2004, an increase of US$2.1 billion on November.

The Monetary Authority said including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of December also stood at US$123.6 billion.

The total foreign currency reserve assets of US$123.6 billion represent more than six times the currency in circulation or about 44% of Hong Kong dollar M3.

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