The Exchange Fund's total assets fell $20.3 billion to $2.199 trillion at the end April, the Monetary Authority announces.

Foreign currency assets decreased by $22.2 billion while Hong Kong dollar assets rose by $1.9 billion.

The drop in foreign currency assets was mainly due to a decrease in unsettled purchases of securities, which was partly offset by valuation gains on foreign currency investments. The rise in Hong Kong dollar assets was mainly due to placements received from fiscal reserves.

The Monetary Base at the end of April was $1.023 trillion, a fall of $500 million, or 0.05%, from the end of March. The fall in the Monetary Base was mainly due to a decrease in certificates of indebtedness.

Backing Assets increased by $1.5 billion, or 0.13%, to $1.0987 trillion. The rise was mainly attributable to revaluation gains and interest from investments. These changes were partly offset by the decline in the Monetary Base.

The backing ratio rose from 107.18% at the end of March to 107.38% at the end of April.