
Foreign currency reserves balloons to US$500m
Even reserve assents went up.
According to the Monetary Authority, Hong Kong’s official foreign currency reserve assets amounted to US$301.7 billion at the end of October, up US$500 million on the end of September.
Including unsettled forward contracts, foreign currency reserve assets at the end of October stood at US$302.4 billion, while it was US$301.2 billion on the end of September.
The figure represents over eight times the currency in circulation or about 54% of Hong Kong dollar M3