Hong Kong’s official foreign currency reserve assets rose $7.6 billion in October to $440.5 billion and remained more than five times currency in circulation, the Hong Kong Monetary Authority (HKMA) said Nov. 6.
The October gain followed a September decline. The HKMA’s latest annex lists reserve assets at $442.8 billion at the end of August and $432.9 billion a month later, so the figures imply a calculated September decrease of $9.9 billion. October’s balance was still $2.3 billion below August’s level.
The September figure was revised. An Oct. 7 HKMA release put it at $433.0 billion, $100 million above the latest amount. The earlier figure implied a $9.8 billion August-to-September decrease; the revised figure brings the calculated decline to $9.9 billion. EconoTimes previously reported the initial August-to-September decline.
The HKMA said the October reserve total was about 36% of Hong Kong dollar M3. It also reported zero unsettled foreign-exchange contracts at both September and October month-end.
The authority gave no reason for October’s increase. Its annex labels the latest monthly figures preliminary and says they may change.
The figures appear in the HKMA’s Nov. 6 foreign currency reserve assets release and annex. The International Monetary Fund describes the template as a way to compare reserve assets with other foreign-currency resources and track obligations or transactions that could draw on them. The HKMA calendar lists Nov. 30 for its next monthly template.
