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Source: Reuters

HK Exchange Fund assets HK$2,408.2 bln end-March - HKMA

Published: 29 Apr 2011 03:36:30 PST

HONG KONG, April 29 - The total assets of the Exchange Fund, which is used to back the Hong Kong dollar, amounted to HK$2,408.2 billion ($309.9 billion) at the end of March, the Hong Kong Monetary Authority (HKMA) said on Friday.

The figure was HK$25.7 billion lower than the total at the end of February, with foreign currency assets and Hong Kong dollar assets falling HK$17.8 billion and HK$7.9 billion respectively, the city's de facto central bank said in a statement.

The decline in foreign currency assets was mainly due to decreases in unsettled purchases of securities and Certificates of Indebtedness. The decline in Hong Kong dollar assets was mainly due to fiscal drawdowns. ($1 = 7.769 Hong Kong Dollars)

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