HK Remains World's Fifth Largest Holder of Foreign Currency

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Last updated at: (Beijing Time) Monday, July 07, 2003

HK Remains World's Fifth Largest Holder of Foreign Currency

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The official foreign currency reserve assets of Hong Kong amounted to 114.4 billion US dollars at the end of June, compared with 116.1 billion US dollars at the end of May, the Hong Kong Monetary Authority (HKMA) announced Monday.

In terms of foreign currency reserves ranking, Hong Kong is theworld's fifth largest holder of foreign currency reserves, after Japan, the Chinese mainland, Chin's Taiwan, and the Republic of Korea.

The total foreign currency reserve assets represent about seventimes the currency in circulation or about 44 percent of Hong Kongdollar M3, one of the highest ratios in the world.

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