Hong Kong foreign currency reserves up in March

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

Hong Kong foreign currency reserves up in March

Hong Kong's foreign currency reserve assets stood at 123.8 billion US dollars last month, the Hong Kong Monetary Authority (HKMA) said here Wednesday.

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Hong Kong's foreign currency reserve assets stood at 123.8 billion US dollars last month, the Hong Kong Monetary Authority (HKMA) said Wednesday.

The figure shows an increase of 300 million US dollars over February. The figure for end-February is 123.5 billion US dollars,the HKMA said.

Hong Kong remains the world's fifth largest foreign currency reserves holder after Japan, Chinese mainland, China's Taiwan and South Korea, according to the HKMA.

Including unsettled forward contracts, foreign currency reserveassets also stood at 123.8 billion US dollars, about seven times the currency in circulation or 44 percent of Hong Kong dollar M3, it said.

Source: Xinhua

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