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HK's Exchange Fund Up in July
The total assets of the Exchange Fund of Hong Kong amounted to 982.8 billion HK dollars (128 billion US dollars) as at July 31, 2000, announced the Hong Kong Monetary Authority (HKMA) Monday.
The figure is included in the Exchange Fund Abridged Balance Sheet, which is released on a monthly basis together with the Currency Board Account.
At the end of July 2000, the total assets of the Exchange Fund, at 982.8 billion HK dollars, were 26.6 billion HK dollars (3.4 billion US dollars) higher than at the end of June.
Both foreign currency assets and Hong Kong dollar assets increased by 16.4 billion HK dollars (2.1 billion US dollars) and 10.2 billion HK dollars (1.3 billion US dollars) respectively.
The increase in foreign currency assets was primarily due to an increase in the amount of repurchase agreements outstanding at the end of the month, according to HKMA.
The increase in Hong Kong dollar assets reflected an increase in the market value of Hong Kong equities that was partly offset by a decrease in placements by other government funds.
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