Hong Kong's official foreign currency reserve assets amounted to US$114.4 billion at the end of June, US$1.7 billion less than the previous month, the Monetary Authority says.

Including unsettled forward contracts, our foreign currency reserve assets at the end of June stood at US$114.2 billion, compared to US$116.1 billion the previous month.

In terms of foreign currency reserves ranking, Hong Kong is the world's fifth largest holder of foreign currency reserves, after Japan, the Mainland, Taiwan and South Korea.

The total foreign currency reserve assets of US$114.4 billion represent about seven times the currency in circulation or about 44% of Hong Kong dollar M3.