HK Ranks World's Fourth Largest Foreign Currency Reserve Holder |
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The Hong Kong Monetary Authority announced Wednesday that the official foreign currency reserve assets of Hong Kong amounted to 113.1 billion U.S. dollars at the end of October 2001.
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The Hong Kong Monetary Authority announced Wednesday that the official foreign currency reserve assets of Hong Kong amounted to 113.1 billion U.S. dollars at the end of October 2001.
Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of October 2001 also stood at 113.1 billion U.S. dollars, making the city the world's fourth largest holder of foreign currency reserves, after Japan, China's mainland and Taiwan.
The total foreign currency reserve assets of 113.1 billion U.S.dollars represent about eight times the currency in circulation or 44 percent of Hong Kong dollar, one of the highest ratios in the world.
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