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Press Releases

Hong Kong's Latest Foreign Currency Reserve Assets Figures Released

The Hong Kong Monetary Authority (HKMA) announced today (Wednesday) that the official foreign currency reserve assets of Hong Kong amounted to US$113.1 billion at the end of October 2001 (end-September 2001: US$113.4 billion) (Table 1).

Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of October 2001 also stood at US$113.1 billion (end-September 2001: US$113.4 billion).

In terms of foreign currency reserves ranking, Hong Kong is the world's fourth largest holder of foreign currency reserves, after Japan, Mainland China and Taiwan (Table 2).

The total foreign currency reserve assets of US$113.1 billion represent about eight times the currency in circulation or 44% of Hong Kong dollar M3, one of the highest ratios in the world.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246

Hong Kong Monetary Authority
7 November 2001

 

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 2001, the scheduled dates for issuing the press releases are as follows:

7 November SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures)
14 November SDDS Analytical Accounts of the Central Bank (Exchange Fund Balance Sheet Data)
30 November Exchange Fund Abridged Balance Sheet and Currency Board Account
30 November SDDS Template on International Reserves and Foreign Currency Liquidity

Table 1

Foreign Currency Reserve Assets of Hong Kong
(US$ billion)

 

Excluding Unsettled
FX Contracts

Unsettled
FX Contracts

Including
Unsettled
FX Contracts

 

Dec 95

55.4

1.8

57.2

Dec 96

63.8

5.7

69.6

Dec 97

92.8

0.4

93.2

Dec 98

89.6

-

89.6

Dec 99

96.3

-

96.3

 

 

 

 

Jan 00

94.3

(0.1)

94.2

Feb 00

93.1

-

93.1

Mar 00

93.8

0.1

93.9

Apr 00

93.9

0.3

94.2

May 00

95.2

0.2

95.4

Jun 00

97.1

-

97.1

Jul 00

98.9

-

98.9

Aug 00

100.4

(0.3)

100.1

Sep 00

101.5

0.2

101.7

Oct 00

102.7

-

102.7

Nov 00

104.2

-

104.2

Dec 00

107.5

-

107.5

 

 

 

 

Jan 01

111.5

-

111.5

Feb 01

114.3

-

114.3

Mar 01

114.6

-

114.6

Apr 01

115.1

-

115.1

May 01

114.7

-

114.7

Jun 01

114.1

-

114.1

Jul 01

114.6

-

114.6

Aug 01

113.7

-

113.7

Sep 01

113.4

-

113.4

Oct 01

113.1

-

113.1

Figures for the end of 1995 and 1996 do not include Land Fund figures. The Land Fund was established on 1 July 1997 and its foreign currency reserve assets were included thereafter in the above compilation. The assets of the Land Fund were merged into the Exchange Fund in November 1998.

Table 2

Foreign Currency Reserves Ranking

 

 

US$ billion

As at end of

1.

Japan

405.7

Oct 2001

2.

Mainland China

195.8

Sep 2001

3.

Taiwan

116.2

Oct 2001

4.

Hong Kong

113.1

Oct 2001

5.

Korea

100.5

Oct 2001

6.

Germany

86.3

Sep 2001

7.

Singapore

75.5

Sep 2001

8.

US

69.8

Oct 2001

9.

France

69.6

Sep 2001

10.

Switzerland

53.9

Sep 2001

Sources : HKMA, Reuters, website of the International Monetary Fund

Last revision date: 1 August 2011
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