Hong Kong foreign-currency reserves up $7.1 billion in April

Xinhua reported that, “Hong Kong’s official foreign- currency reserve assets rose to 193.4 billion U.S. dollars in April, up 7.1 billion U.S. dollars on March, the Monetary Authority of Hong Kong said on Thursday. Including unsettled forward contracts, foreign currency reserve assets stood at 194 billion U.S. dollars. The total foreign-currency reserve assets represent about eight times the currency in circulation, or 45 percent of Hong Kong dollar M3. Hong Kong is the world’s seventh largest holder of foreign currency reserves, after the Chinese mainland, Japan, Russia, China’s Taiwan, India and South Korea.”

>read more: Xinhua

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