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 From Hong Kong's Information Services Department
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August 7, 2008
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Finance
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Foreign currency reserve assets rise
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Hong Kong Monetary Authority

Including unsettled forward contracts, Hong Kong's official foreign currency reserve assets amounted to US$157.7 billion at the end of July, US$100 million higher than at the end of June.

 

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

 

The total foreign currency reserve assets represent over seven times the currency in circulation or about 40% of Hong Kong dollar M3.