The Exchange Fund's total assets dropped to $4.1501 trillion at the end of March, down by $40.1 billion on the previous month, the Monetary Authority announced today.

Foreign currency assets decreased by $21.8 billion and Hong Kong dollar assets dropped $18.3 billion.

The Monetary Base was $1.7295 billion, up 0.7% on the previous month due to an increase in the outstanding amount of Certificates of Indebtedness.

The amount of Backing Assets rose by 1.1% to $20.6 billion due to the issuance of Certificates of Indebtedness, revaluation gains and income from investments.

The backing ratio increased from 107.98% to 108.42%.