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The following is issued on behalf the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (November 8) that the official foreign currency reserve assets of Hong Kong amounted to US$165.9 billion at the end of November 2008 (end-October 2008: US$154.8 billion) (Table 1).
Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of November 2008 stood at US$166.0 billion (end-October 2008: US$155.2 billion).
Hong Kong is the world's eighth largest holder of foreign currency reserves based on the latest published figures, after Mainland China, Japan, Russia, Taiwan, India, Korea and Brazil (Table 2).
The total foreign currency reserve assets of US$165.9 billion represent over seven times the currency in circulation or about 40% of Hong Kong dollar M3.
For further enquiries, please contact:
Peggy Lo, Manager (Communications), at 2878 1687 or
Hing-fung Wong, Manager (Communications), at 2878 1802
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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 December 2008, the scheduled dates for issuing the press releases are as follows:
December 8
SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures)
December 15
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund)
December 31
Exchange Fund Abridged Balance Sheet and Currency Board Account
December 31
SDDS Template on International Reserves and Foreign Currency Liquidity
Ends/Monday, December 8, 2008
Issued at HKT 18:14
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