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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (May 31) that the total assets of the Exchange Fund amounted to HK$2,198.9 billion on April 30, 2010.
The figure is included in the Exchange Fund Abridged Balance Sheet, which is released monthly together with the Currency Board Account.
At the end of April 2010 the total assets of the Exchange Fund, at HK$2,198.9 billion, were HK$20.3 billion lower than at the end of March 2010. Foreign currency assets decreased by HK$22.2 billion while Hong Kong dollar assets increased by HK$1.9 billion.
The decline in foreign currency assets was mainly due to a decrease in unsettled purchases of securities, which was partly offset by valuation gains on foreign currency investments. The rise in Hong Kong dollar assets was mainly due to placements received from fiscal reserves.
The Currency Board Account shows that the Monetary Base at the end of April 2010 was HK$1,023.2 billion, a decrease of HK$0.5 billion, or 0.05%, from the end of March 2010. The decline in the Monetary Base was mainly due to a decrease in Certificates of Indebtedness.
The Backing Assets increased by HK$1.5 billion, or 0.13%, to HK$1,098.7 billion. The increase was mainly attributable to revaluation gains and interest from investments. These changes were partly offset by the decline in the Monetary Base. The backing ratio increased from 107.18% at the end of March 2010 to 107.38% at the end of April 2010.
For further enquiries, please contact:
Yokee Wong, Manager (Communications), at 2878 1213 or
Natalie Wu, Officer (Communications), 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 May 2010, the scheduled dates for issuing the press releases are as follows:
May 7 SDDS International Reserves (Hong Kong's
Latest Foreign Currency Reserve Assets
(Issued) Figures)
May 14 SDDS Analytical Accounts of the Central
Bank (Analytical Accounts of the Exchange
(Issued) Fund)
May 31 Exchange Fund Abridged Balance Sheet and
Currency Board Account
May 31 SDDS Template on International Reserves
and Foreign Currency Liquidity
Ends/Monday, May 31, 2010
Issued at HKT 17:34
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