HONG KONG: Total assets of the Exchange Fund, which is used to back the Hong Kong dollar, stood atHK$2,345.7 billion ($300.7 billion) at the end of December, the Hong Kong Monetary Authority (HKMA) said on Friday.
The figures was HK$45.7 billion lower than end of November, with foreign currency assets and Hong Kong dollar assets falling HK$14.8 billion and HK$30.9 billion
With respect
The de facto central bank of city said in a
Statement.
"The decline in foreign currency assets was main a cause
in-unsettled purchases of securities, which was partly
offset by valuation gains on foreign currency investments and an
increase in Certificates of Indebtedness," the HKMA said.
The decline in Hong Kong dollar assets was mainly due to a
decrease in Exchange Fund Bills and Notes issued but not yet
settled, it added.
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