The Hong Kong Monetary Authority (HKMA) announced today (30 April) that the total assets of the Exchange Fund amounted to HK$4,063.8 billion as at 31 March 2024, HK$22.9 billion higher than that at the end of February 2024. Foreign currency assets increased by HK$23.2 billion while Hong Kong dollar assets decreased by HK$0.3 billion.
The rise in foreign currency assets was mainly due to mark-to-market revaluation of investments and interest income from investments. The decline in Hong Kong dollar assets was mainly due to mark-to-market revaluation of Hong Kong equities and reduction in the month-end balances of unsettled purchase of securities.
The Currency Board Account shows that the Monetary Base at the end of March 2024 was HK$1,918.1 billion, increased by HK$8.4 billion, or 0.4%, from the end of February 2024. The increase was mainly due to the increase in the outstanding amount of Certificates of Indebtedness and amortisation of discount on Exchange Fund Bills and Notes.
The amount of Backing Assets increased by HK$13.6 billion, or 0.6%, to HK$2,131.5 billion at the end of March 2024. The increase was mainly attributable to interest from investments and the issuance of Certificates of Indebtedness. The Backing Ratio increased from 110.90% at the end of February 2024 to 111.12% at the end of March 2024.
Annex 1: Abridged Balance Sheet of the Exchange Fund
Annex 2: Currency Board Account
Hong Kong Monetary Authority
30 April 2024
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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 April 2024, the scheduled dates for issuing the press releases are as follows:
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9 April
(Issued)
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SDDS International Reserves
(Hong Kong’s Latest Foreign Currency Reserve Assets Figures)
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12 April
(Issued)
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SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund)
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30 April
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SDDS Template on International Reserves and
Foreign Currency Liquidity
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30 April
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Exchange Fund Abridged Balance Sheet and
Currency Board Account
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