Hong Kong’s Latest Foreign Currency Reserve Assets Figures Released

The Hong Kong Monetary Authority (HKMA) announced today (Monday) that the official foreign currency reserve assets of Hong Kong at the end of October 2016 were US$383.1 billion, increased by US$20.6 billion, or 5.7%, from the end of September 2016 (Annex).  The increase was mainly due to the inclusion of Renminbi (RMB) assets.  This change followed the IMF’s determination that the RMB is freely usable and its decision to include the RMB in the Special Drawing Right Basket effective 1 October 2016.  

Including unsettled foreign exchange contracts, the foreign currency reserve assets of Hong Kong at the end of October 2016 amounted to US$374.4 billion (end-September 2016: US$362.5 billion).

The total foreign currency reserve assets of US$383.1 billion represent about eight times the currency in circulation or 48% of Hong Kong dollar M3.

Annex

Hong Kong Monetary Authority
7 November 2016

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At present, four press releases relating to the Exchange Fund’s data are issued by the HKMA each month.  Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS).  The fourth press release, on the Exchange Fund’s Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA’s policy of maintaining a high level of transparency.  For the month of November 2016, the scheduled dates for issuing the press releases are as follows: