HK's foreign currency reserve assets hit 122.8 bln USD

Hong Kong's foreign currency reserve assets rose 500 million US dollars over August to 122.8 billion US dollars at the end of September, Hong Kong's Monetary Authority said Friday.

Including unsettled forward contracts, the city's foreign currency reserve assets at the end of September also stood at 122. 8 billion US dollars, up 500 million US dollars from August.

The total foreign currency reserve assets of 122.8 billion US dollars represent over six times the currency in circulation or about 42 percent of Hong Kong dollar M3.

Hong Kong is now the world's seventh largest holder of foreign currency reserves after Japan, the Chinese mainland, Taiwan, South Korea, Russia and India.

Source: Xinhua