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HK's Foreign Currency Reserve Assets Up in August
The official foreign currency reserve assets of Hong Kong amounted to 100.4 billion U.S.dollars at the end of August 2000, compared with 98.9 billion U.S.dollars at end-July, according to the Hong Kong Monetary Authority Thursday.
Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of August 2000 stood at 100.1 billion U.S. dollars, up from 98.9 billion U.S. dollars at the end of the previous month.
In terms of foreign currency reserves ranking, Hong Kong is the world's fourth largest holder of foreign currency reserves, after Japan, China's mainland and Taiwan.
The total foreign currency reserve assets of 100.4 billion U.S. dollars 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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