Exchange Fund Abridged Balance Sheet and Currency Board Account
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The Hong Kong Monetary Authority (HKMA) announced today (July 31) that the total assets of the Exchange Fund amounted to HK$4,297.1 billion as at June 30, 2025, HK$137.7 billion higher than that at the end of May 2025. Hong Kong dollar assets increased by HK$88.5 billion and foreign currency assets increased by HK$49.2 billion.
The rise in Hong Kong dollar assets was mainly due to the increase in Exchange Fund Bills and Notes issued but not yet settled at month end. The rise in foreign currency assets was mainly due to interest income, mark-to-market revaluation of investments, and the proceeds from the issuance of Government Green Bonds, which were partly offset by the sale of US dollars under the Currency Board arrangements.
The Currency Board Account shows that the Monetary Base at the end of June 2025 was HK$2,120.2 billion, decreased by HK$4.7 billion, or 0.2 per cent, from the end of May 2025. The decline was mainly due to the purchase of HK dollars under the Currency Board arrangements, which was partly offset by increase in the outstanding amount of Certificates of Indebtedness and the amortisation of discount on Exchange Fund Bills and Notes issued.
The amount of Backing Assets increased by HK$8.6 billion, or 0.4 per cent, to HK$2,364.8 billion at the end of June 2025. The increase was mainly attributable to interest income, mark-to-market revaluation of investments, and the issuance of Certificates of Indebtedness, which were partly offset by the sale of US dollars under the Currency Board arrangements. The Backing Ratio increased from 110.88 per cent at the end of May 2025 to 111.54 per cent at the end of June 2025.
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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 July 2025, the scheduled dates for issuing the press releases are as follows:
| July 7 (Issued) |
SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures) |
| July 14 (Issued) |
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund) |
| July 31 | SDDS Template on International Reserves and Foreign Currency Liquidity |
| July 31 | Exchange Fund Abridged Balance Sheet and Currency Board Account |
Ends/Thursday, July 31, 2025
Issued at HKT 16:30
Issued at HKT 16:30
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