The Hong Kong Monetary Authority (HKMA) announced today (29 August) that the total assets of the Exchange Fund amounted to HK$4,102.6 billion as at 31 July 2025, HK$194.5 billion lower than that at the end of June 2025. Foreign currency assets decreased by HK$106.1 billion and Hong Kong dollar assets decreased by HK$88.4 billion.
The decline in foreign currency assets was mainly due to the sale of US dollars under the Currency Board arrangements and reduction in the month-end balances of unsettled purchase of securities, which were partly offset by interest income from investments. The decline in Hong Kong dollar assets was mainly due to the decrease in Exchange Fund Bills and Notes issued but not yet settled at month end.
The Currency Board Account shows that the Monetary Base at the end of July 2025 was HK$2,042.6 billion, decreased by HK$77.6 billion, or 3.7%, from the end of June 2025. The decline was mainly due to the purchase of HK dollars under the Currency Board arrangements.
The amount of Backing Assets decreased by HK$73.3 billion, or 3.1%, to HK$2,291.5 billion at the end of July 2025. The decrease was mainly attributable to the sale of US dollars under the Currency Board arrangements, which was partly offset by interest income from investments. The Backing Ratio increased from 111.54% at the end of June 2025 to 112.19% at the end of July 2025.
Annex 1: Abridged Balance Sheet of the Exchange Fund
Annex 2: Currency Board Account
Hong Kong Monetary Authority
29 August 2025
*****************************************************************
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 August 2025, the scheduled dates for issuing the press releases are as follows:
|
7 August
(Issued)
|
SDDS International Reserves
(Hong Kong’s Latest Foreign Currency Reserve Assets Figures)
|
|
14 August
(Issued)
|
SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund)
|
|
29 August
|
SDDS Template on International Reserves and
Foreign Currency Liquidity
|
|
29 August
|
Exchange Fund Abridged Balance Sheet and
Currency Board Account
|
