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’s Exchange Fund at US$536.7 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




October 30, 2020 - The Hong Kong Monetary Authority announced today that the total assets of the Exchange Fund amounted to HK$4,186.7 billion (US$536.7 billion) as at September 30, 2020. This is HK$26.0 billion (US$3.3 billion) higher than that at the end of August 2020. Foreign currency assets increased by HK$37.9 billion (US$4.8 billion) while Hong Kong dollar assets decreased by HK$11.9 billion (US$1.5 billion).

The rise in foreign currency assets was mainly due to the increase of Monetary Base, which was partly offset by the reduction in Fiscal Reserves placements and the mark-to-market revaluation on foreign currency investments. The decline in Hong Kong dollar assets was mainly due to the mark-to-market revaluation on Hong Kong equities.

The Currency Board Account shows that the Monetary Base at the end of September 2020 was HK$1,896.4 billion (US$243.1 billion), increased by HK$77.6 billion (US$9.9 billion), or 4.3 per cent, from the end of August 2020. The rise was mainly due to the sale of HK dollars under the Currency Board arrangements and the issuance of Certificates of Indebtedness.

Backing Assets increased by HK$77.6 billion (US$9.9 billion), or 3.8 per cent, to HK$2,102 billion (US$269.4 billion). The increase was mainly attributable to the purchase of US dollars under the Currency Board arrangements and the issuance of Certificates of Indebtedness. The backing ratio decreased from 111.31 per cent at the end of August 2020 to 110.84 per cent at the end of September 2020.


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