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HK exchange fund assets up 10.9 bln USD in April


21:19, May 31, 2013

HONG KONG, May 31 (Xinhua) -- Total assets of Hong Kong exchange fund grew 84.4 billion HK dollars (10.9 billion U.S. dollars) to 2.9705 trillion HK dollars in April, the Hong Kong Monetary Authority announced Friday.

The Monetary Authority said foreign currency assets increased by 36.6 billion HK dollars, and Hong Kong dollar assets increased by 47.8 billion HK dollars.

The rise in foreign currency assets was mainly due to valuation gains on foreign currency investments and purchases of foreign currencies with Hong Kong dollars. The rise in Hong Kong dollar assets was mainly due to an increase in exchange fund bills and notes issued but not yet settled.

The Monetary Base decreased by 7.3 billion HK dollars, or 0.6 percent, to 1.235 trillion HK dollars. The decline was mainly due to a decrease in the outstanding amount of Certificates of Indebtedness.

Backing Assets decreased by 5.3 billion HK dollars, or 0.4 percent, to 1.3377 trillion HK dollars, which was mainly attributable to the redemption of Certificates of Indebtedness, partly offset by revaluation gains and interest from investments. The backing ratio rose from 108.1 percent to 108.31 percent.

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