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

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

Exchange Fund at US$535.6 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

April 29, 2020 - The Hong Kong Monetary Authority announced today that the total assets of the Exchange Fund amounted to HK$4,094.6 billion (US$524.9 billion) as at March 31, 2020. This is US$10.6 billion (HK$83.2 billion) lower than that at the end of February 2020.  Foreign currency assets decreased by US$14.6 billion (HK$114.5 billion) while Hong Kong dollar assets increased by US$4 billion (HK$31.3 billion).

The decline in foreign currency assets was mainly due to the mark-to-market revaluation on foreign currency investments and a decrease in unsettled purchases of securities.  The rise in Hong Kong dollar assets was mainly due to an increase in Exchange Fund Bills and Notes issued but not yet settled, which was partly offset by withdrawals of placements by Fiscal Reserves and a decrease in market value of Hong Kong equities.

The Currency Board Account shows that the Monetary Base at the end of March 2020 was US$215.3 billion (HK$1,679.9 billion), decreased by US$858 million (HK$6.7 billion), or 0.4 per cent, from the end of February 2020.  The decline was mainly due to a decrease in the outstanding amount of Certificates of Indebtedness.

The amount of Backing Assets decreased by US$641 million (HK$5 billion), or 0.3 per cent, to US$241.2 billion (HK$1,881.4 billion).  The decrease was mainly attributable to the redemption of Certificates of Indebtedness which was partly offset by the interest from investments.  The backing ratio increased from 111.85 per cent at the end of February 2020 to 111.99 per cent at the end of March 2020.

2021 © | Important notices       Privacy policy      Accessibility                                                                                                                                                    Last Revision Date: January 5, 2021


Web For All W3C Web Accessibility initiative    
This website adopts web accessibility design and conforms to the World Wide Web Consortium (W3C) Web Content Accessibility Guidelines (WCAG) 2.0 Level AA standard. Should you have any enquiries or comments on its accessibility, please contact us by phone or email.