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 From Hong Kong's Information Services Department
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December 7, 2005
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Finance
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Foreign currency reserves hit US$122.4b 
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Monetary Authority logo

Hong Kong's foreign currency reserve assets amounted to US$122.4 billion at the end of November, up US$500 million on the previous month, the Monetary Authority says.

 

Including unsettled forward contracts, foreign currency reserve assets also rose US$500 million from October to $122.4 billion.

 

The amount represents more than six times the currency in circulation, or 42% of Hong Kong dollar M3.

 

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