Printer Friendly

Hong Kong : Exchange Fund Abridged Balance Sheet and Currency Board Account.

The following is issued on behalf of the Hong Kong Monetary Authority:

The Hong Kong Monetary Authority (HKMA) announced today (October 31) that the total assets of the Exchange Fund amounted to HK$3,902.5 billion as at September 30, 2017, HK$9.9 billion lower than that at the end of August 2017. Foreign currency assets increased by HK$8.5 billion while Hong Kong dollar assets decreased by HK$18.4 billion.

The rise in foreign currency assets was mainly due to the issuance of Certificates of Indebtedness and the purchase of foreign currencies with Hong Kong dollars, which were partly offset by mark-to-market losses on foreign currency portfolios and a decrease in unsettled purchases of securities. The decline in Hong Kong dollar assets was mainly due to sale of Hong Kong dollars for foreign currencies and withdrawals of placements by Fiscal Reserves.

The Currency Board Account shows that the Monetary Base at the end of September 2017 was HK$1,680.8 billion, increased by HK$14.3 billion, or 0.9%, from the end of August 2017. The rise was mainly due to the increase in the outstanding amount of Certificates of Indebtedness.

The amount of Backing Assets increased by HK$10.9 billion, or 0.6%, to HK$1,814.5 billion. The increase was mainly attributable to the issuance of Certificates of Indebtedness, which was partly offset by revaluation losses. The backing ratio decreased from 108.22% at the end of August 2017 to 107.95% at the end of September 2017.

[c] 2017 Al Bawaba ( Provided by SyndiGate Media Inc. ( ).

COPYRIGHT 2017 SyndiGate Media Inc.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2017 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Mena Report
Geographic Code:9HONG
Date:Nov 1, 2017
Previous Article:Hong Kong : MD expresses gratitude to Standing Commission on Civil Service Salaries and Conditions of Service for reviewing structures of two...
Next Article:Hong Kong : Hong Kong, China and European Free Trade Association States conducted First Joint Committee meeting under Free Trade Agreement.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters