The Hong Kong Monetary Authority (HKMA) announced today (Tuesday) that the official foreign currency reserve assets of Hong Kong amounted to US$122.4 billion at the end of May 2005 (end-April 2005: US$122.6 billion) (Table 1).
Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of May 2005 also stood at US$122.4 billion (end-April 2005: US$122.6 billion).
In terms of foreign currency reserves ranking, Hong Kong is the world's seventh largest holder of foreign currency reserves, after Japan, Mainland China, Taiwan, Korea, Russia and India (Table 2).
The total foreign currency reserve assets of US$122.4 billion represent over six times the currency in circulation or about 43% of Hong Kong dollar M3.
For further enquiries, please contact:
Kevin Ip, Manager (Press), at 2878 1687 or
Thomas Chan, Senior Manager (Press), at 2878 1480
Hong Kong Monetary Authority
7 June 2005
At present, four press releases relating to the Exchange Fund's data are issued by the HKMA each month. Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund's Special Data Dissemination Standard (SDDS). The fourth press release, on the Exchange Fund''s Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA's policy of maintaining a high level of transparency. For the month of June 2005, the scheduled dates for issuing the press releases are as follows:
|7 June||SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures)|
|14 June||SDDS Analytical Accounts of the Central Bank (Exchange Fund Balance Sheet Data)|
|30 June||Exchange Fund Abridged Balance Sheet and Currency Board Account|
|30 June||SDDS Template on International Reserves and Foreign Currency Liquidity|
Foreign Currency Reserve Assets of Hong Kong
Figures for the end of 1995 and 1996 do not include Land Fund figures. The Land Fund was established on 1 July 1997 and its foreign currency reserve assets were included thereafter in the above compilation. The assets of the Land Fund were merged into the Exchange Fund in November 1998.
* The latest monthly figures are preliminary and subject to change.
Official Reserves Ranking
|US$ billion||At end of|
|(2)||Mainland China||659.1||Mar 2005|
|(7)||Hong Kong||122.4||May 2005|
Sources : HKMA, Reuters, websites of International Monetary Fund, People's Bank of China