HK Foreign currency reserves hit US$119.5 bln

Hong Kong's foreign currency reserve assets amounted to 119.5 billion US dollars at the end of October, up 1.1 billion US dollars on the previous month, the Monetary Authority said here Monday.

Including unsettled forward contracts, foreign currency reserveassets rose 1.6 billion US dollars from September to 120 billion.

The amount represents more than six times the currency in circulation, or 45 percent of Hong Kong dollar M3.

Hong Kong ranks as the world's sixth largest holder of foreign currency reserves, after Japan, China's mainland, Taiwan, South Korea and India.

Source: Xinhua