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$534 billion


For more information, please contact

Melissa Ng in New York City: (212) 752 3320

Daniel McAtee in Washington, D.C.: (202) 238 6360

Wing Yan Tong in San Francisco: (415) 835 9315

March 29, 2019 - The Hong Kong Monetary Authority (HKMA) announced today that the total assets of the Exchange Fund amounted to HK$4,165.4 billion (US$534 billion) as at February 28, 2019. This is HK$16.2 billion (US$2.0 billion) lower than that at the end of January 2019. Foreign currency assets decreased by HK$1.7 billion (US$217.9 million) and Hong Kong dollar assets decreased by HK$14.5 billion (US$1.8 billion).

The decline in foreign currency assets was mainly due to the redemption of Certificates of Indebtedness and a decrease in unsettled purchases of securities, which were partly offset by income from foreign currency portfolios. The decline in Hong Kong dollar assets was mainly due to withdrawals of placements by Fiscal Reserves and HKSAR government funds and statutory bodies, which were partly offset by an increase in market value of Hong Kong equities.

Currency Board Account shows that the Monetary Base at the end of February 2019 was HK$1,646.6 billion (US$211.1 billion), decreased by HK$9.1 billion (US$1.1 billion), or 0.6 per cent, from the end of January 2019. The decline was mainly due to the decrease in the outstanding amount of Certificates of Indebtedness.

Backing Assets decreased by HK$6.2 billion (US$794.8 million), or 0.3 per cent, to HK$1,816.6 billion (US$232.8 billion). The decrease was mainly attributable to the redemption of Certificates of Indebtedness, which was partly offset by interest from investments. The backing ratio increased from 110.09 per cent at the end of January 2019 to 110.33 per cent at the end of February 2019.

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