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Hong Kong's Foreign Currency Reserve Assets Down in June
The official foreign currency reserve assets of Hong Kong saw a slight decrease to stand at 114. 1 billion US dollars at the end of June 2001, compared to the 114.7 billion dollars in end-May, according to the Hong Kong Monetary Authority (HKMA) Monday.
Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of June 2001 also stood at 114.1 billion dollars.
In terms of foreign currency reserves ranking, Hong Kong is the world's third largest holder of foreign currency reserves, after Japan and Chinese mainland.
The total foreign currency reserve assets of 114.1 billion dollars represent over eight times the currency in circulation or about 45 percent of Hong Kong dollar M3, one of the highest ratios in the world.
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