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$533.4 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




September 30, 2020 - The Hong Kong Monetary Authority announced today that the total assets of the Exchange Fund amounted to HK$4,160.7 billion (US$533.4 billion) as at August 31, 2020. This is HK$4.6 billion (US$589 million) higher than that at the end of July 2020. Hong Kong dollar assets increased by HK$6.3 billion (US$807 million) while foreign currency assets decreased by HK$1.7 billion (US$217 million).

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

The Currency Board Account shows that the Monetary Base at the end of August 2020 was HK$1,818.7 billion (US$233.1 billion), an increase of HK$17.4 billion (US$2.2 billion), or 1.0 per cent, from the end of July 2020. The rise was mainly due to the sale of Hong Kong dollars under the Currency Board arrangements and the issuance of Certificates of Indebtedness.

The amount of Backing Assets increased by HK$17.4 billion (US$2.2 billion), or 0.9 per cent, to HK$2,024.4 billion (US$259.5 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 111.42 per cent at the end of July 2020 to 111.31 per cent at the end of August 2020.


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