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The Hong Kong Monetary Authority (HKMA) announced today (March 7) that the official foreign currency reserve assets of Hong Kong amounted to US$136.3 billion at the end of February 2007 (end-January 2007: US$133.7 billion) (Table 1).
Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of February 2007 also stood at US$136.3 billion (end-January 2007: US$133.7 billion).
Hong Kong is the world's eighth largest holder of foreign currency reserves, after Mainland China, Japan, Russia, Taiwan, Korea, India and Singapore (Table 2).
The total foreign currency reserve assets of US$136.3 billion represent over six times the currency in circulation or about 37% of Hong Kong dollar M3.
For further enquiries, please contact:
Sara Yip, Manager (Press), at 2878 8246 or
Thomas Chan, Senior Manager (Press), at 2878 1480
Hong Kong Monetary Authority
March 7 2007
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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 March 2007, the scheduled dates for issuing the press releases are as follows:
March 7 SDDS International Reserves (Hong
Kong's Latest Foreign Currency
Reserve Assets Figures)
March 14 SDDS Analytical Accounts of the
Central Bank (Analytical Accounts
of the Exchange Fund)
March 30 Exchange Fund Abridged Balance
Sheet and Currency Board Account
March 30 SDDS Template on International
Reserves and Foreign Currency
Liquidity
Ends/Wednesday, March 7, 2007
Issued at HKT 17:49
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