HK's Foreign Currency Reserve Assets Figures Released

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Last updated at: (Beijing Time) Wednesday, January 08, 2003

HK's Foreign Currency Reserve Assets Figures Released

The Hong Kong Monetary Authority announced Tuesday that the official foreign currency reserve assets of Hong Kong amounted to 111.9 billion US dollars at the end of December 2002.

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The Hong Kong Monetary Authority announced Tuesday that the official foreign currency reserve assets of Hong Kong amounted to 111.9 billion US dollars at the end of December 2002.

Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of December 2002 also stoodat 111.9 billion US dollars.

In terms of foreign currency reserves ranking, Hong Kong is theworld's fifth largest holder of foreign currency reserves, after Japan, Chinese mainland, Taiwan region and South Korea.

The total foreign currency reserve assets of 111.9 billion US dollars represent over seven times the currency in circulation or about 43 percent of Hong Kong dollar M3, one of the highest ratiosin the world.

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