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$537.6 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

 




February 28, 2020 - The Hong Kong Monetary Authority (HKMA) announced today that the total assets of the Exchange Fund amounted to HK$4,194 ┬ábillion (US$537.6 billion) as at January 31, 2020. This is HK$65.1 billion (US$8.3 billion) lower than that at the end of December 2019.  Hong Kong dollar assets decreased by HK$46.9 billion (US$6 billion) and foreign currency assets decreased by HK$18.2 billion (US$2.3 billion).

The decline in Hong Kong dollar assets was mainly due to a reduction in Exchange Fund Bills and Notes issued but not yet settled and a decrease in bank borrowings, which were partly offset by additional placements from Fiscal Reserves.  The decline in foreign currency assets was mainly due to a reduction in unsettled purchases of securities, which was partly offset by the issuance of Certificates of Indebtedness.

The Currency Board Account shows that the Monetary Base at the end of January 2020 was HK$1,688.7 billion (US$216.5 billion) increased by HK$26.3 billion (US$3.3 billion), or 1.6 per cent, from the end of December 2019.  The rise was mainly due to an increase in the outstanding amount of Certificates of Indebtedness, which reflected the seasonal demand for banknotes around Lunar New Year.

The amount of Backing Assets increased by HK$25.1 billion (US$3.2 billion), or 1.4 per cent, to HK$1,873.7 billion (US$240.2 billion).  The increase was mainly attributable to the issuance of Certificates of Indebtedness.  The backing ratio decreased from 111.21 per cent at the end of December 2019 to 110.96 per cent at the end of January 2020.

    


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