This photo taken in Hong Kong on Jan 12, 2008 shows Hong Kong dollar and US dollar banknotes. (LAURENT FIEVET / AFP)
HONG KONG - Hong Kong's foreign currency reserve assets shrank to US$432.1 billion as at the end of May from US$434.5 billion at the end of April, the Hong Kong Monetary Authority said on Thursday.
Including unsettled foreign exchange contracts, the foreign currency reserve assets of Hong Kong at the end of May amounted to US$424.6 billion, lower than US$426.9 billion at the end of April.
The total foreign currency reserve assets of US$432.1 billion represent over seven times the currency in circulation or about 45 percent of Hong Kong dollar M3.
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