Exchange Fund Abridged Balance Sheet and Currency Board Account
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The Hong Kong Monetary Authority (HKMA) announced today (February 27) that the total assets of the Exchange Fund amounted to HK$4,285.6 billion as at January 31, 2026, HK$134.2 billion higher than that at the end of December 2025. Foreign currency assets increased by HK$107.0 billion and Hong Kong dollar assets increased by HK$27.2 billion.
The rise in foreign currency assets was mainly due to an increase in the month-end balances of unsettled purchase of securities, interest income and mark-to-market revaluation of investments, and issuance of Certificates of Indebtedness. The rise in Hong Kong dollar assets was mainly due to an increase in placements with banks and mark-to-market revaluation of Hong Kong equities.
The Currency Board Account shows that the Monetary Base at the end of January 2026 was HK$2,058.7 billion, grew by HK$18.7 billion, or 0.9 per cent, from the end of December 2025. The growth was mainly due to the increase in the outstanding amount of Certificates of Indebtedness, which reflected the seasonal demand for banknotes around Chinese New Year, and amortisation of discount on Exchange Fund Bills and Notes issued.
The amount of Backing Assets increased by HK$28.9 billion, or 1.3 per cent, to HK$2,279.8 billion at the end of January 2026. The increase was mainly attributable to the issuance of Certificates of Indebtedness, interest income from investments and mark-to-market revaluation of investments. The Backing Ratio increased from 110.34 per cent at the end of December 2025 to 110.74 per cent at the end of January 2026.
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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 February 2026, the scheduled dates for issuing the press releases are as follows:
| February 6 (Issued) |
SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures) |
| February 13 (Issued) |
SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund) |
| February 27 | SDDS Template on International Reserves and Foreign Currency Liquidity |
| February 27 | Exchange Fund Abridged Balance Sheet and Currency Board Account |
Ends/Friday, February 27, 2026
Issued at HKT 16:30
Issued at HKT 16:30
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