Hong Kong's total assets of Exchange Fund amounts to 417.93 bln USD in August
Xinhua, September 30, 2015 Adjust font size:
The Hong Kong Monetary Authority announced on Wednesday that the total assets of the Exchange Fund amounted to 3,239.1 billion HK dollars (about 417.93 billion U.S. dollars) as at Aug. 31, 2015, 25.5 billion HK dollars lower than that at the end of July 2015.
Foreign currency assets decreased by 6.0 billion HK dollars and Hong Kong dollar assets decreased by 19.5 billion HK dollars.
The decline in foreign currency assets was mainly due to valuation losses on overseas equities, which were largely offset by an increase in unsettled purchases of securities. The decline in Hong Kong dollar assets was mainly due to valuation losses on Hong Kong equities, according to the authority.
The Currency Board Account shows that the Monetary Base at the end of August 2015 was 1,423.2 billion HK dollars, increased by 3. 4 billion HK dollars, or 0.2 percent, from the end of July 2015. The rise was mainly due to an increase in the outstanding amount of Certificates of Indebtedness.
The amount of Backing Assets increased by 3.1 billion HK dollars, or 0.2 percent, to 1,523.9 billion HK dollars. The rise was mainly attributable to the issuance of Certificates of Indebtedness, which was partly offset by valuation losses.
The backing ratio decreased from 107.12 percent at the end of July 2015 to 107.08 percent at the end of August 2015. (1 U.S. dollar = 7.75 HK dollars) Endi