Hong Kong Economic and Trade Office, USA
Hong Kong
News Release

The following is issued on behalf of the Hong Kong Monetary Authority:

Hong Kong Exchange Fund at US$531.1 billion


For more information, please contact

Melissa Ng in New York City: (212) 752 3320
Wing Yan Tong in San Francisco: (415) 835 9315
Daniel McAtee in Washington, D.C.: (202) 238 6360

December 31, 2019 - The Hong Kong Monetary Authority (HKMA) announced today that the total assets of the Exchange Fund amounted to HK$4,142.8 billion (US$531.1 billion) as at November 30, 2019. This is HK$45.2 billion (US$5.7 billion) lower than that at the end of October 2019. Foreign currency assets decreased by HK$40.9 billion and Hong Kong dollar assets decreased by HK$4.3 billion (US$551 million).

The decline in foreign currency assets was mainly due to the settlement of foreign exchange-related contracts, which was partly offset by an increase in unsettled purchases of securities. The decline in Hong Kong dollar assets was mainly due to a decrease in market value of Hong Kong equities.

The Currency Board Account shows that the Monetary Base at the end of November 2019 was HK$1,653.8 billion (US$212 billion), increased by HK$7.6 billion (US$974 million), or 0.5 per cent, from the end of October 2019. The rise was mainly due to an increase in the outstanding amount of Certificates of Indebtedness.

The amount of Backing Assets increased by HK$4.7 billion (US$602 million), or 0.3 per cent, to HK$1,847.3 billion (US$236.8 billion). The increase was mainly attributable to the issuance of Certificates of Indebtedness. The backing ratio decreased from 111.92 per cent at the end of October 2019 to 111.70 per cent at the end of November 2019.

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