HK's Foreign Currency Reserve Assets Up in JulyThe official foreign currency reserve assets of Hong Kong amounted to 98.9 billion US dollars at the end of July 2000, according to the Hong Kong Monetary Authority (HKMA) Monday.The foreign currency reserve assets of Hong Kong at July included unsettled forward contracts, compared to the 97.1 billion US dollars at the end of June, this year. In terms of foreign currency reserves ranking, Hong Kong is the world's fourth largest holder of foreign currency reserves, after Japan, the Chinese mainland and Taiwan. Hong Kong's total foreign currency reserve assets represent over seven times the currency in circulation or about 40 percent of Hong Kong dollar M3, one of the highest ratios in the world. |
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