Hong Kong's Latest Foreign Currency Reserve Assets Figures Released
The Hong Kong Monetary Authority (HKMA) announced today (7 December) that the official foreign currency reserve assets of Hong Kong amounted to US$104.2 billion at the end of November 2000 (end-October: US$102.7 billion) (Table 1).
Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of November 2000 also stood at US$104.2 billion (end-October: US$102.7 billion).
In terms of foreign currency reserves ranking, Hong Kong is the world's fourth largest holder of foreign currency reserves, after Japan, Mainland China, and Taiwan (Table 2).
The total foreign currency reserve assets of US$104.2 billion represent about eight times the currency in circulation or about 41% of Hong Kong dollar M3, one of the highest ratios in the world.
For further enquiries, please contact:
Jasmin Fung, Manager (Press), at 2878 8246 or
Thomas Chan, Senior Manager (Press), at 2878 1480 or
Hong Kong Monetary Authority
7 December 2000
At present, four press releases relating to the Exchange Fund's data are issued by the HKMA each month. Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund's Special Data Dissemination Standard (SDDS). The fourth press release, on the Exchange Fund's Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA's policy of maintaining a high level of transparency. For the month of December, the scheduled dates for issuing the press releases are as follows:
| 7 December | SDDS International Reserves (Hong Kong's Latest Foreign Currency Reserve Assets Figures) | |
| 14 December | SDDS Analytical Accounts of the Central Bank (Exchange Fund Balance Sheet Data) | |
| 22 December | Exchange Fund Abridged Balance Sheet and Currency Board Account | |
| 29 December | SDDS Template on International Reserves and Foreign Currency Liquidity |
Table 1
(US$ billion)
Excluding Including
Unsettled Unsettled Unsettled
FX Contracts FX Contracts FX Contracts
--------------------------------------------------
Dec 95 55.4 1.8 57.2
Dec 96 63.8 5.7 69.6
Dec 97 92.8 0.4 93.2
Dec 98 89.6 - 89.6
Jan 99 90.1 - 90.1
Feb 99 89.8 - 89.8
Mar 99 89.5 - 89.5
Apr 99 89.5 - 89.5
May 99 88.9 - 88.9
Jun 99 88.6 - 88.6
Jul 99 89.1 - 89.1
Aug 99 89.2 0.1 89.3
Sep 99 90.4 - 90.4
Oct 99 90.4 - 90.4
Nov 99 92.1 0.5 92.6
Dec 99 96.3 - 96.3
Jan 00 94.3 (0.1) 94.2
Feb 00 93.1 - 93.1
Mar 00 93.8 0.1 93.9
Apr 00 93.9 0.3 94.2
May 00 95.2 0.2 95.4
Jun 00 97.1 - 97.1
Jul 00 98.9 - 98.9
Aug 00 100.4 (0.3) 100.1
Sep 00 101.5 0.2 101.7
Oct 00 102.7 - 102.7
Nov 00 104.2 - 104.2
Figures for the end of 1995 and 1996 do not include Land Fund figures. The Land Fund was established on 1 July 1997 and its foreign currency reserve assets were included thereafter in the above compilation. The assets of the Land Fund were merged into the Exchange Fund in November 1998.
Table 2
US$ billion As at end of
----------- ------------
(1) Japan 354.6 Nov 2000
(2) Mainland China 160.1 Sep 2000
(3) Taiwan 108.2 Nov 2000
(4) Hong Kong 104.2 Nov 2000
(5) Korea 93.3 Nov 2000
(6) Germany 84.3 Oct 2000
(7) Singapore 77.8 Oct 2000
(8) US 64.9 Nov 2000
(9) France 63.4 Oct 2000
(10) Switzerland 52.2 Oct 2000
Sources: HKMA, Reuters, Website of International Monetary Fund.
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