Forex reserve assets slightly increase to US$498.1b

The total assets represent 48% of HK dollar M3.

Foreign currency reserve assets slightly increased to US$498.1b at the end of October from US$494.9b last month, the Hong Kong Monetary Authority announced. 

The authority said the total forex reserve assets for the month represent about seven times the currency in circulation or 48% of Hong Kong dollar M3.

Like last month, there were no unsettled foreign exchange contracts in October.