
Exchange Fund Abridged Balance Sheet and Currency Board Account
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The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (September 30) that the total assets of the Exchange Fund amounted to HK$4,070.2 billion as at August 31, 2025, HK$32.4 billion lower than that at the end of July 2025. Foreign currency assets decreased by HK$36.1 billion while Hong Kong dollar assets increased by HK$3.7 billion.
The decline in foreign currency assets was mainly due to the sale of US dollars under the Currency Board arrangements. The rise in Hong Kong dollar assets was mainly due to mark-to-market revaluation of Hong Kong equities.
The Currency Board Account shows that the Monetary Base at the end of August 2025 was HK$2,014.2 billion, decreased by HK$28.4 billion, or 1.4 per cent, from the end of July 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.
The amount of Backing Assets decreased by HK$80.3 billion, or 3.5 per cent, to HK$2,211.2 billion at the end of August 2025. The decrease was mainly attributable to the transfer of assets out of the Backing Portfolio to the Investment Portfolio in accordance with the arrangement approved by the Exchange Fund Advisory Committee, and the sale of US dollars under the Currency Board arrangements. The Backing Ratio decreased from 112.19 per cent at the end of July 2025 to 109.78 per cent at the end of August 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 September 2025, the scheduled dates for issuing the press releases are as follows:
September 5 (Issued) |
SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures) |
September 12 (Issued) |
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund) |
September 30 |
SDDS Template on International Reserves and Foreign Currency Liquidity |
September 30 |
Exchange Fund Abridged Balance Sheet and Currency Board Account |
Ends/Tuesday, September 30, 2025
Issued at HKT 16:30
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