Exchange Fund Abridged Balance Sheet and Currency Board Account
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The Hong Kong Monetary Authority (HKMA) announced today (October 31) that the total assets of the Exchange Fund amounted to HK$4,152.2 billion as at September 30, 2025, HK$82.0 billion higher than that at the end of August 2025. Hong Kong dollar assets increased by HK$97.2 billion while foreign currency assets decreased by HK$15.2 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 and mark-to-market revaluation of Hong Kong equities. The decline in foreign currency assets was mainly due to withdrawals of Fiscal Reserves placements and reduction in the month-end balances of unsettled purchase of securities, which were partly offset by interest income from investments and mark-to-market revaluation of investments.
The Currency Board Account shows that the Monetary Base at the end of September 2025 was HK$2,020.2 billion, increased by HK$6.0 billion, or 0.3 per cent, from the end of August 2025. The increase was mainly due to the 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$7.0 billion, or 0.3 per cent, to HK$2,218.2 billion at the end of September 2025. The increase was mainly attributable to interest income from investments. The Backing Ratio increased from 109.78 per cent at the end of August 2025 to 109.80 per cent at the end of September 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 October 2025, the scheduled dates for issuing the press releases are as follows:
| October 8 (Issued) |
SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures) |
| October 14 (Issued) |
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund) |
| October 31 | SDDS Template on International Reserves and Foreign Currency Liquidity |
| October 31 | Exchange Fund Abridged Balance Sheet and Currency Board Account |
Ends/Friday, October 31, 2025
Issued at HKT 16:30
Issued at HKT 16:30
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