Hong Kong Monetary Authority - Latest Foreign Exchange Reserves Figure Released

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19 Sep 1997

Latest Foreign Exchange Reserves Figure Released

The Hong Kong Monetary Authority (HKMA) announced that the official foreign exchange reserves of Hong Kong, including those held in the Land Fund, were US$85.3 billion at the end of August 1997 (end-July: US$81.7 billion), placing Hong Kong at the 4th position in world ranking, up from 5th position.

As at end of August, the foreign reserves held in the Exchange Fund were US$69.5 billion (end-July: US$66.1 billion) and those in the Land Fund were US$15.8 billion (end-July: US$15.6 billion). The increase in the Exchange Fund foreign reserves was due to substantial placements by the Government during the month of August being used to settle forward purchases of foreign exchange.

Including outstanding forward transactions, the foreign reserves held in the Exchange Fund and the Land Fund were US$69.6 billion and US$15.9 billion respectively.

Hong Kong Monetary Authority
19 September 1997

Exchange Fund Foreign Currency Assets
(US$ billion)

	Excluding forward transactions	Net forward tracsactions	Including forward transactions

March 95	52.4	(0.2)	52.2
June 95	53.6	-	53.6
September 95	51.8	2.8	54.6
December 95	55.4	1.8	57.2
March 96	58.1	1.7	59.8
June 96	57.3	2.7	60
September 96	55.4	6.7	62.1
December 96	63.8	5.7	69.6
January 97	65.9	5.2	71.1
February 97	63.8	4.3	68.1
March 97	63.4	4.3	67.7
April 97	63.6	4	67.6
May 97	66.6	1.8	68.4
June 97	67.6	2.1	69.7
July 97	66.1	2.5	68.6
August 97	69.5	0.1	69.6

Foreign Exchange Reserves Ranking

1	Japan	US$222 billion	Jul 97
2	China	US$126 billion	Jul 97
3	Taiwan	US$89 billion	Jul 97
4	Hong Kong	US$85 billion	Aug 97
5	Germany	US$83 billion	Jul 97
6	Singapore	US$80 billion	Jul 97
7	US	US$68 billion	Jul 97
8	Spain	US$65 billion	Jul 97
9	Brazil	US$60 billion	Jul 97
10	Italy	US$51 billion	Jul 97

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