Hong Kong's latest foreign currency reserve assets figures released
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The Hong Kong Monetary Authority (HKMA) announced today (November 7) that the official foreign currency reserve assets of Hong Kong at the end of October 2016 were US$383.1 billion, increased by US$20.6 billion, or 5.7%, from the end of September 2016 (Annex). The increase was mainly due to the inclusion of Renminbi (RMB) assets. This change followed the International Monetary Fund (IMF)'s determination that the RMB is freely usable and its decision to include the RMB in the Special Drawing Right Basket effective October 1, 2016.
Including unsettled foreign exchange contracts, the foreign currency reserve assets of Hong Kong at the end of October 2016 amounted to US$374.4 billion (end-September 2016: US$362.5 billion).
The total foreign currency reserve assets of US$383.1 billion represent about eight times the currency in circulation or 48% of Hong Kong dollar M3.
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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 IMF'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 November 2016, the scheduled dates for issuing the press releases are as follows:
| November 7 | SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures) |
| November 14 | SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund) |
| November 30 | SDDS Template on International Reserves and Foreign Currency Liquidity |
| November 30 | Exchange Fund Abridged Balance Sheet and Currency Board Account |
Ends/Monday, November 7, 2016
Issued at HKT 16:30
Issued at HKT 16:30
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