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Press Releases

Hong Kong's Latest Foreign Currency Reserve Assets Figures Released

The Hong Kong Monetary Authority (HKMA) announced today (Friday) that the official foreign currency reserve assets of Hong Kong amounted to US$123.6 billion at the end of December 2004 (end-November 2004: US$121.5 billion) (Table 1).

Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of December 2004 also stood at US$123.6 billion (end-November 2004: US$121.5 billion).

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

The total foreign currency reserve assets of US$123.6 billion represent over six times the currency in circulation or about 44% of Hong Kong dollar M3.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
Kevin Ip, Manager (Press), at 2878 1687

Hong Kong Monetary Authority
7 January 2005

 

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 2005, 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)
28 January Exchange Fund Abridged Balance Sheet and Currency Board Account
31 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
Dec 01 111.2 -

111.2

Dec 02 111.9 - 111.9
 

 

   
Jan 03 115.6 - 115.6
Feb 03 113.7 - 113.7
Mar 03 113.6 - 113.6
Apr 03 114.2 - 114.2
May 03 116.1 - 116.1
Jun 03 114.4 (0.2) 114.2
Jul 03 112.6 - 112.6
Aug 03 111.8 (0.4) 111.4
Sep 03 112.1 - 112.1
Oct 03 112.4 - 112.4
Nov 03 114.1 - 114.1
Dec 03 118.4 0.5 118.9
       
Jan 04 123.6 - 123.6
Feb 04 123.5 - 123.5
Mar 04 123.8 - 123.8
Apr 04 122.1 - 122.1
May 04 120.1 - 120.1
Jun 04 120.8 - 120.8
Ju1 04 118.3 - 118.3
Aug 04 118.5 - 118.5
Sep 04 118.4 - 118.4
Oct 04 119.5 0.5 120.0
Nov 04 121.5 - 121.5
Dec 04* 123.6 - 123.6

 

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.

* The latest monthly figures are preliminary and subject to change.

Table 2

Official Reserves Ranking

 

 

US$ billion

At end of

(1)

Japan

840.1

Nov 2004

(2)

Mainland China

514.5

Sep 2004

(3)

Taiwan

241.7

Dec 2004

(4)

Korea

199.1

Dec 2004

(5)

India

131.0

Dec 2004

(6)

Hong Kong

123.6

Dec 2004

(7)

Russia

120.7

Dec 2004

(8)

Singapore

110.1

Nov 2004

(9)

Germany

97.7

Nov 2004

(10)

US

87.1

Dec 2004

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

Last revision date: 1 August 2011
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