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Monetary Authority

The Hong Kong Monetary Authority is the government authority responsible for maintaining monetary and banking stability. It maintains currency stability within the framework of the Linked Exchange Rate system, helps maintain Hong Kong's status as an international financial centre, and manages the Exchange Fund.

Exchange Fund total assets up $43b

September 30, 2010

The total assets of the Exchange Fund amounted to $2.276 trillion on August 31, up $43.9 billion on the end of July.


Foreign currency assets grew by $24.2 billion and Hong Kong dollar assets rose $19.7 billion.


The Monetary Authority today said the rise in foreign currency assets was mainly due to increases in unsettled purchases of securities and valuation gains on foreign currency investments.


The rise in Hong Kong dollar assets was mainly due to an increase in Exchange Fund Bills and Notes issued but not yet settled, which was partly offset by valuation losses on Hong Kong equities and fiscal drawdowns.


The currency board account shows the monetary base at the end of August was $1.0251 trillion, showing a rise of 0.02% on the end of July.


The climb was mainly due to an increase in market value of Exchange Fund Bills and Notes outstanding which was substantially offset by a drop in Certificates of Indebtedness.