Foreign currency reserves dip

Hong Kong’s foreign currency reserve assets dropped to US$427.4 billion in April from US$430.8 billion in March, the Monetary Authority announced today.


The reserve assets represent over five times the currency in circulation or about 40% of Hong Kong dollar M3.


Including unsettled foreign exchange contracts, the foreign currency reserve assets at the end of April decreased to US$426.6 billion from March’s US$430.4 billion.