HK's Foreign Currency Reserve Assets Total US$114.3 BillionThe official foreign currency reserve assets of Hong Kong amounted to 114.3 billion US dollars at the end of February 2001, the Hong Kong Monetary Authority (HKMA) said WednesdayIncluding unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of February this year also stood at 114.3 billion US dollars, compared with 111.5 billion US dollars registered at the end of January, the HKMA said. According to a HKMA spokesperson, in terms of foreign currency reserves ranking, Hong Kong is the world's third largest holder of foreign currency reserves, after Japan and the Chinese mainland. The total foreign currency reserve assets represent over eight times the currency in circulation or about 44 percent of Hong Kong dollar M3, one of the highest ratios in the world. |
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