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 From Hong Kong's Information Services Department
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November 7, 2008
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Finance

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Foreign currency reserves hit US$154.9b
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Monetary Authority logo

Hong Kong's foreign currency reserve assets reached US$154.9 billion at the end of October, down US$5.7 billion on September.

 

The Monetary Authority announced today that, including unsettled forward contracts, foreign currency reserve assets stood at US$155.3 billion.

 

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

 

The assets represent about seven times the currency in circulation or 38% of Hong Kong dollar M3.