This photo taken in Hong Kong on Jan 12, 2008 shows Hong Kong dollar and US dollar banknotes. (LAURENT FIEVET / AFP)
HONG KONG – The official foreign exchange reserves of Hong Kong expanded in January, the Hong Kong Monetary Authority (HKMA) said on Monday.
The official foreign currency reserve assets of Hong Kong amounted to US$432 billion at the end of January from US$424.7 billion at the end of December last year.
Including unsettled foreign exchange contracts, the foreign currency reserve assets at the end of January 2019 rose to US$424.9 billion from US$417.5 billion at the end of December last year.
READ MORE: HK foreign currency reserves up in December
The total foreign currency reserve assets of US$432 billion represent about seven times the currency in circulation or 47 percent of Hong Kong dollar M3.
The latest monthly figure is a preliminary one and may be corrected, according to the HKMA.
HKMA added that the December figure had been revised from US$424.6 billion to US$424.7 billion in the latest release.
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