|
The Exchange Fund's total assets fell to $1.406 trillion in July, down $2.7 billion from June. Foreign-currency assets rose $4 billion while Hong Kong dollar assets dropped $6.7 billion, the Monetary Authority says.
The rise in foreign-currency assets was due mainly to interest and dividend income from foreign-currency assets, and an increase in securities purchased but settled in the following month. These increases were partly offset by redemption of certificates of indebtedness.
The drop in Hong Kong dollar assets was due mainly to fiscal drawdowns and a decrease in Exchange Fund Bills and Notes issued but not yet settled, which were partly offset by valuation gains on Hong Kong equities held by the fund and an increase in bank borrowings.
The Monetary Base stood at $324.3 billion, down $1.9 billion, or 0.6% from June. The decrease was due mainly to a decrease in Certificates of Indebtedness.
The Backing Assets dropped $0.7 billion, or 0.2%, to $358.5 billion. The fall was attributable mainly to the redemption of Certificates of Indebtedness in the Monetary Base, which was partly offset by revaluation gains and interest from investments. The backing ratio rose from 110.14% at the end of June to 110.56% at the end of July.
Go To Top
|
