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Press Releases

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 amounted to US$110.2 billion at the end of March 2002 (end-February 2002: US$111.3 billion) (Table 1).

Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of March 2002 also stood at US$110.2 billion (end-February 2002: US$111.3 billion).

According to an HKMA spokesperson, the US$1.1 billion decrease in settled foreign currency assets in the month of March was mainly due to a decrease in the amount of repurchase agreements outstanding at the end of the month.

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$110.2 billion represent over seven times the currency in circulation or 43% 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 or
Sylvia Yip, Manager (Press), at 2878 1687

Hong Kong Monetary Authority
8 April 2002

 

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 April 2002, the scheduled dates for issuing the press releases are as follows:

8 April SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures)
15 April SDDS Analytical Accounts of the Central Bank (Exchange Fund Balance Sheet Data)
26 April Exchange Fund Abridged Balance Sheet and Currency Board Account
30 April 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

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

Nov 01

112.3

-

112.3

Dec 01

111.2

-

111.2

Jan 02

111.3

-

111.3

Feb 02

111.3

-

111.3

Mar 02

110.2

-

110.2

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

Official Reserves Ranking

US$ billion

As at end of

1

Japan

401.5

Mar 2002

2

Mainland China

223.5

Feb 2002

3

Taiwan

128.0

Mar 2002

4

Hong Kong

110.2

Mar 2002

5

Korea

106.1

Mar 2002

6

Germany

85.8

Feb 2002

7

Singapore

75.1

Feb 2002

8

US

67.8

Mar 2002

9

France

58.7

Feb 2002

10

India

54.2

Mar 2002

Sources : HKMA, Reuters, websites of International Monetary Fund, People's Bank of China

Last revision date: 1 August 2011
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