Foreign currency reserves hit US$422.1 in November

The reserve assets represent more than seven times the currency in circulation.

Hong Kong’s foreign currency reserves rose to US$422.1b in November from last month’s US$419.2b, according to latest data from the Hong Kong Monetary Authority.

Including unsettled foreign exchange contracts, foreign currency reserve assets rose to US$413.5b in November from US$410.9b last month.

The reserve assets represent more than seven times the currency in circulation or 44% of Hong Kong dollar M3.