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Press Releases

Hong Kong's Latest Foreign Currency Reserve Assets Figures Released

The Hong Kong Monetary Authority (HKMA) announced today (Tuesday) that the official foreign currency reserve assets of Hong Kong amounted to US$111.9 billion at the end of December 2002 (end-November 2002: US$111.0 billion) (Table 1).

Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of December 2002 also stood at US$111.9 billion (end-November 2002: US$111.0 billion).

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

The total foreign currency reserve assets of US$111.9 billion represent over seven times the currency in circulation or about 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
Thomas Chan, Senior Manager (Press), at 2878 1480

Hong Kong Monetary Authority
7 January 2003

 

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 January 2003, the scheduled dates for issuing the press releases are as follows:

 

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

Apr 02

110.9

-

110.9

May 02

111.3

-

111.3

Jun 02

112.4

-

112.4

Jul 02

112.5

-

112.5

Aug 02

112.3

(0.2)

112.1

Sep 02

111.2

-

111.2

Oct 02

110.6

-

110.6

Nov 02

111.0

-

111.0

Dec 02

111.9

-

111.9

 

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

460.5

Nov 2002

(2)

Mainland China

286.4

Dec 2002

(3)

Taiwan

161.7

Dec 2002

(4)

Korea

121.4

Dec 2002

(5)

Hong Kong

111.9

Dec 2002

(6)

Germany

87.0

Nov 2002

(7)

Singapore

80.2

Nov 2002

(8)

US

77.3

Dec 2002

(9)

India

70.3

Dec 2002

(10)

France

60.0

Nov 2002

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

Last revision date: 1 August 2011
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