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

March 31, 2020 - The Hong Kong Monetary Authority (HKMA) announced today that the total assets of the Exchange Fund amounted to HK$4,177.8 billion (US$535.6 billion) as at February 29, 2020, HK$16.2 billion (US$2 billion) lower than that at the end of January 2020. Hong Kong dollar assets decreased by HK$32.9 billion (US$4.2 billion) while foreign currency assets increased by HK$16.7 billion (US$2.1 billion).

The decline in Hong Kong dollar assets was mainly due to a decrease in bank borrowings and withdrawals of placements by Fiscal Reserves, Hong Kong Special Administrative Region Government funds and statutory bodies. The rise in foreign currency assets was mainly due to an increase in unsettled purchases of securities.

The Currency Board Account shows that the Monetary Base at the end of February 2020 was HK$1,686.6 billion (US$216.2 billion), decreased by HK$2.1 billion (US$269 million), or 0.1 per cent, from the end of January 2020. The decline was mainly due to a decrease in the outstanding amount of Certificates of Indebtedness.

Backing Assets increased by HK$12.7 billion (US$1.6 billion) or 0.7 per cent, to HK$1,886.4 billion (US$241.8 billion). The increase was mainly attributable to the rise in the market value of investments, which was partly offset by the redemption of Certificates of Indebtedness. The backing ratio increased from 110.96 per cent at the end of January 2020 to 111.85 per cent at the end of February 2020.

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