Foreign currency reserves up

Hong Kong’s foreign currency reserve assets rose to US$430.7 billion in March from US$429.1 billion in February, the Monetary Authority announced today.   The reserve assets represent over five times the currency in circulation or about 41% of Hong Kong dollar M3.   Including unsettled foreign exchange contracts, the foreign currency reserve assets at the end of March increased to US$430.3 billion from February’s US$428.9 billion.
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