
Foreign currency reserves hit US$421.6b in July
It rose from the US$417.3b record in June.
Hong Kong's foreign currency reserve assets dropped to US$421.6b in July from US$417.3b in June.
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 the end of July,” added the Monetary Authority.