..:hketo newsletter:..

Home >> More >> Foreign Currency Reserve Assets

HK Fights AP
War Impact on HK
2003 Budget Unveiled
Investment Immigrants
Policy Address
Population Policy
Basic Law 23
IMF Forecasts
Pearl River Delta
HK Asia's Business Hub
Insurance in HK
Canadian Expectations

The Hong Kong Monetary Authority announced on March 7 that Hong Kong’s official foreign currency reserve assets amounted to US$113.7 billion at the end of February 2003. This represents a decrease of US$1.9 billion decrease in February, mainly due to a decrease in Certificate of Indebtedness after the seasonal demand in January for cash ahead of the Lunar New Year.

Hong Kong is the world’s 5th largest holder of foreign currency reserves, after Japan, Mainland China, Taiwan and Korea.

The total foreign currency reserve assets of US$113.7 billion represent nearly 7 times the currency in circulation, or about 44% of Hong Kong dollar M3, one of the highest ratios in the world.

Top