Foreign currency reserves hit US$416b in September

It increased from the US$415.7b record in September.

Hong Kong's foreign currency reserve assets increased to US$416b in August from US$415.7b in September.

According to the Monetary Authority, the reserve assets represent over five times the currency in circulation or about 40% of Hong Kong dollar M3.

“There were no unsettled foreign exchange contracts at end-October and end-September,” added the Monetary Authority.