Hong Kong’s Latest Foreign Currency Reserve Assets Figures Released

The Hong Kong Monetary Authority (HKMA) has reported that Hong Kong’s official foreign currency reserve assets stood at US$416.4 billion as of the end of April 2024. This figure represents a slight decrease from the end of March 2024 when the reserve assets amounted to US$423.5 billion. It is worth noting that there were no unsettled foreign exchange contracts at the end of April 2024, in contrast to the previous month when there were contracts worth US$0.5 billion left to be settled. The total foreign currency reserve assets of US$416.4 billion held by Hong Kong signify a substantial amount, surpassing the currency in circulation by over five times. Furthermore, these reserves account for approximately 39% of Hong Kong dollar M3, which is a broad measure of the money supply in the economy. This indicates that Hong Kong possesses a significant buffer of foreign currency reserves, which can help support the stability and liquidity of its financial system and currency.The Hong Kong Monetary Authority (HKMA) has announced that as of the end of April 2024, Hong Kong’s official foreign currency reserve assets amounted to US$416.4 billion. This represents a decrease from the previous month’s figure of US$423.5 billion. It is important to note that there were no unsettled foreign exchange contracts at the end of April, in contrast to the end of March when there were contracts worth US$0.5 billion yet to be settled. The total foreign currency reserve assets of US$416.4 billion held by Hong Kong are quite substantial, exceeding the currency in circulation by more than five times. Additionally, these reserves account for approximately 39% of Hong Kong dollar M3, which is a broad measure of the money supply in the economy. This demonstrates that Hong Kong has a significant reserve of foreign currency that can be utilized to support the stability and liquidity of its financial system and currency. Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/05/20240507-6/