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HK's foreign currency reserves hit US$122b
(Xinhua)
Updated: 2004-05-07 22:20

Hong Kong's foreign-currency reserve assets amounted to US$122.1 billion at the end of April, a dip of US$1.7 billion since March, Hong Kong Monetary Authority said Friday.

The volume includes unsettled forward contracts.

In terms of foreign currency reserves ranking, Hong Kong is the world's fifth-largest holder of foreign-currency reserves, after Japan, the Chinese Mainland, China's Taiwan and the Republic of Korea.

The total foreign-currency reserve assets is about seven times the currency in circulation, or 46 percent of Hong Kong dollar M3, which measures the total amount of currency in circulation plus private and public sector's time deposits and sight deposits held by public sector.

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