HK Exchange Fund Reports Decrease in Foreign Assets

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Last updated at: (Beijing Time) Friday, August 15, 2003

HK Exchange Fund Reports Decrease in Foreign Assets

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The Hong Kong Exchange Fund reported a decrease of 17.1 billion Hong Kong dollars (2.19 billion US dollars) in the foreign assets at the end of July, according to a press release of Hong Kong Monetary Authority on Thursday.

Data on the balance sheet of the Exchange Fund show that, foreign assets, representing the external assets of the Exchange Fund, amounted to 824.7 billion Hong Kong dollars (105.73 billion US dollars).

The Monetary Base, comprising Certificates of Indebtedness, government-issued currency notes and coins in circulation, the Aggregate Balance of the banking system and Exchange Fund Bills and Notes issued, amounted to 253.1 billion Hong Kong dollars (32.45 billion US dollars), according to the press release.

Claims on the private sector in Hong Kong amounted to 55.2 billion Hong Kong dollars (7.08 billion US dollars). Foreign liabilities, representing mainly obligations under repurchase agreements, amounted to 13.0 billion Hong Kong dollars (1.67 billion US dollars).

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