2011-03-08 10:06

HONG KONG - The Hong Kong Monetary Authority (HKMA) announced Monday that the official foreign currency reserve assets of Hong Kong amounted to $272.7 billion at the end of February, down $500 million on the end of January.

The figure put Hong Kong in the ninth place in the rank of largest holders of foreign reserves, after the Chinese mainland, Japan, Russia, Saudi Arabia, China's Taiwan, India, Brazil and South Korea.

The city's total foreign currency reserve assets of $272.7 billion represent over nine times the currency in circulation or about 54 percent of Hong Kong dollar M3.