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Latest Foreign Exchange Reserves Figure Released

Press Releases

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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Last revision date : 19 September 1997