Hong Kong’s Official Foreign Currency Reserve Assets Increase In December

(RTTNews) - Wednesday, a report released by the Hong Kong Monetary Authority said the official foreign currency reserve assets of the country increased to US$182.5 billion at the end of December from US$165.9 billion at the end of November.

The report said the increase in the foreign currency reserve assets in December was mainly due to the purchase of foreign currencies with Hong Kong dollars.

The foreign currency reserve assets of US$182.5 billion represent about eight times the currency in circulation or 44% of the Hong Kong dollar M3.

On the basis of the latest data, Hong Kong is the eighth largest holder of foreign currency reserves after Mainland China, Japan, Russia, Taiwan, India, Brazil and Korea.

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Posted in Categories: Economy, Japan, Releases, USA.

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