September foreign currency reserve assets down US$1.9bn

Total foreign currency reserve assets represent more than eight times the currency in circulation in September.

Hong Kong's official foreign currency reserve assets amounted to US$277.7 billion at the end of September, down by US$1.9 billion on August's figure, the Monetary Authority announced Friday.

Including unsettled forward contracts, the figures were the same for the same periods.

The total foreign currency reserve assets represent more than eight times the currency in circulation or 55% of Hong Kong dollar M3.