HK foreign currency reserves increase 1.4 bln USD

The Hong Kong Monetary Authority announced Monday that the official foreign currency reserve assets of Hong Kong amounted to 130.3 billion U.S. dollars at the end of September.

The figure represents 1.4 billion dollars rise compared with 128.9 billion dollars reserve assets in August.

"Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of September also stood at 130.3 billion U.S. dollars," the authority said.

Hong Kong is the world's seventh largest holder of foreign currency reserves, after the Chinese mainland, Japan, Russia, Taiwan, Korea and India.

The total foreign currency reserve assets of 130.3 billion U.S.dollars represent over six times the currency in circulation or about 39 percent of Hong Kong dollar M3, according to the authority.

Source: Xinhua