HK foreign currency reserve stands at 118 bln USD in July

Hong Kong's official foreign currency reserve assets amounted to 118.3 billion US dollars at the end of July, down 2.5 billion dollars from the previous month,according to the Hong Kong Monetary Authority Monday.

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

According to the Hong Kong Monetary Authority, the amount represents more than six times the currency in circulation, or 44 percent of Hong Kong dollar M3.

Source: Xinhua