HK's foreign currency reserves up $1.6b
Updated: 2011-08-09 09:39
(Xinhua)
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HONG KONG-- Hong Kong's official foreign currency reserve assets amounted to $278.8 billion at the end of July, up $1.6 billion over June, the city's Monetary Authority announced Monday.
Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of July stood at $279 billion, compared with $277.2 billion in June, said HKMA in a statement posted at its website.
The total foreign currency reserve assets of $278.8 billion represent about nine times the currency in circulation or 56 percent of Hong Kong dollar M3, according to the statement.
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