Hong Kong's foreign currency reserve assets dropped to US$490.9 billion in February from January’s US$492.5 billion, the Monetary Authority announced today.

The reserve assets represent over six times the currency in circulation or about 47% of Hong Kong dollar M3.

Including unsettled foreign exchange contracts, the foreign currency reserve assets at the end of February decreased to US$490.8 billion from January’s US$492.5 billion.