Hong Kong end-Aug forex reserves 138.3 bln usd vs 137.1 bln at end-July

Sep 7, 2007 - The Hong Kong Monetary Authority (HKMA) said the territory's official foreign currency reserve assets totaled 138.3 bln usd at the end of August, up from 137.1 bln usd at the end of July.

Including unsettled forward contracts, foreign currency reserve assets at the end of last month also stood at 138.3 bln usd compared with 137.1 bln in the preceding month.

Hong Kong is the world's ninth largest holder of foreign currency reserves based on the latest published figures, after mainland China, Japan, Russia, Taiwan, Korea, India, Brazil and Singapore.

The total foreign currency reserve assets of 138.3 bln usd represent about seven times the currency in circulation or 36 pct of Hong Kong dollar M3.

(1 usd = 7.8 hkd)