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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (June 10) that the official foreign currency reserve assets of Hong Kong amounted to US$159.0 billion at the end of May 2008 (end-April 2008: US$159.9 billion) (Table 1).
Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of May 2008 also stood at US$159.0 billion (end-April 2008: US$159.9 billion).
Hong Kong is the world's ninth largest holder of foreign currency reserves based on the latest published figures, after Mainland China, Japan, Russia, India, Taiwan, Korea, Brazil and Singapore (Table 2).
The total foreign currency reserve assets of US$159.0 billion represent over seven times the currency in circulation or about 39% of Hong Kong dollar M3.
For further enquiries, please contact:
Hing-fung Wong, Manager (Press), at 2878 1802 or
Lilian Goh, Officer (Press), at 2878 8246
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At present, four press releases relating to the Exchange Fund's data are issued by the HKMA each month. Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund's Special Data Dissemination Standard (SDDS). The fourth press release, on the Exchange Fund's Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA's policy of maintaining a high level of transparency. For the month of June 2008, the scheduled dates for issuing the press releases are as follows:
June 10
SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures)
June 16
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund)
June 30
Exchange Fund Abridged Balance Sheet and Currency Board Account
June 30
SDDS Template on International Reserves and Foreign Currency Liquidity
Ends/Tuesday, June 10, 2008
Issued at HKT 16:30
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