The Monetary Authority announced today that the total assets of the Exchange Fund amounted to $979.9 billion at June 30.

This is $9.6 billion lower than at the end of May, when foreign currency assets decreased $15.6 billion while Hong Kong dollar assets increased $6 billion.

The decrease in foreign currency assets was mainly due to the sale of foreign currencies for Hong Kong dollars.

The increase in Hong Kong dollar assets was mainly due to the purchase of Hong Kong dollars from foreign currencies which was partly offset by fiscal drawdowns.

At the end of June, backing assets increased $1.4 billion, or 0.5%, to $284.5 billion. The backing ratio stood at 112.01%, against 112.04% at the end of May.