Breaking news: hong kong's foreign currency reserves reach record high
The following is issued on behalf of the Hong Kong Monetary Authority:
The Hong Kong Monetary Authority (HKMA) announced today (May 7) that the official foreign currency reserve assets of Hong Kong amounted to US$416.4 billion as at the end of April 2024 (end-March 2024: US$423.5 billion) (Annex).
There were no unsettled foreign exchange contracts at end-April 2024 (end-March 2024: US$0.5 billion).
The total foreign currency reserve assets of US$416.4 billion represent over five times the currency in circulation or about 39 per cent of HongKong dollar M3.
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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 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 May 2024, the scheduled dates for issuing the press releases are as follows:
May 7
SDDS International Reserves
(Hong Kong's Latest Foreign Currency Reserve Assets Figures)
May 14
SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund)
May 31
SDDS Template on International Reserves and
Foreign Currency Liquidity
May 31
Exchange Fund Abridged Balance Sheet and
Currency Board Account
Source: AI-generated images
