Foreign currency reserves down to US$441.7b in July

This is over US$5m lower from the preceding month.

Hong Kong’s foreign currency reserve assets dropped by US$5.5m between June to July, according to data released by the Monetary Authority.

Reserve assets in July were at US$441.7b, compared to US$447.2b in June.

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If including the unsettled foreign exchange contracts, the foreign currency reserve assets at the end of July amounted to US$440.1 billion.

The reserve assets represent about six times the currency in circulation or 42% of Hong Kong dollar M3, the Monetary Authority said.