Hong Kong's Official foreign currency reserve assets amounted to US$118.4 billion in December, compared to US$114.1 billion in November.

The Monetary Authority said, including unsettled forward contracts, our foreign currency reserve assets stood at US$118.9 billion, compared to US$114.1 billion in November.

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$118.4 billion represent about seven times the currency in circulation or 44% of Hong Kong dollar M3.