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$577 billion


January 29, 2021 - The Hong Kong Monetary Authority (HKMA) announced today that the total assets of the Exchange Fund amounted to HK$4,500.8 billion (US$577 billion) as at December 31, 2020. This is HK$49 billion (US$6.2 billion) higher than that at the end of November 2020. Foreign currency assets increased by HK$40.3 billion (US$5.1 billion) and Hong Kong dollar assets increased by HK$8.7 billion (US$1.1 billion).

The rise in foreign currency assets was mainly due to the mark-to-market revaluation on foreign currency investments and an increase in unsettled purchase of securities. The rise 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 December 2020 was HK$2,098 billion (US$268.9 billion). It decreased by HK$11.6 billion (US$1.4 billion), or 0.5 per cent, from the end of November 2020. The decline was mainly due to a decrease in the outstanding amount of Certificates of Indebtedness.

The amount of Backing Assets decreased by HK$10.4 billion (US$1.3 billion), or 0.4 per cent, to HK$2,306.3 billion (US$295.6 billion). The decrease was mainly attributable to the redemption of Certificates of Indebtedness. The backing ratio increased from 109.82 per cent at the end of November 2020 to 109.93 per cent at the end of December 2020.

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