Hong Kong's foreign currency reserve assets rose US$500 million over August to US$122.8 billion at the end of September, the Monetary Authority says.

Including unsettled forward contracts, the city's foreign currency reserve assets at the end of September also stood at US$122.8 billion, up US$500 million from August.

The total foreign currency reserve assets of US$122.8 billion represent over six times the currency in circulation or about 42% of Hong Kong dollar M3.

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