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 From Hong Kong's Information Services Department
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May 9, 2006
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Finance
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Foreign currency reserves hit US$127b

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Monetary Authority

Hong Kong's official foreign currency reserve assets amounted to US$127 billion at the end of April, US$1.1 billion more than March, the Monetary Authority says.

 

The figure represents more than six times the currency in circulation or about 40% of Hong Kong dollar M3.

 

Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong also stood at US$127 billion.

 

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