HK holds US$118.4 billion of foreign currency reserve

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Last updated at: (Beijing Time) Thursday, January 08, 2004

HK holds US$118.4 billion of foreign currency reserve

The Hong Kong Monetary Authority announced Wednesday that the official foreign currency reserve assets of Hong Kong amounted to 118.4 billion US dollars at the end of December 2003.

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The Hong Kong Monetary Authority announced Wednesday that the official foreign currency reserve assets of Hong Kong amounted to 118.4 billion US dollars at the end of December 2003.

Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of December 2003 stood at 118.9 billion US dollars.

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

The total foreign currency reserve assets of 118.4 billion US dollars represent about seven times the currency in circulation or44 percent of Hong Kong dollar M3.

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