Hong Kong’s foreign reserve increased to $295.6 billion in April

The Hong Kong Monetary Authority (HKMA) announced Monday that the official foreign currency reserve assets of Hong Kong amounted to US$295.6 billion as at the end of April 2012 (end?March 2012: US$294.6 billion) (Annex).

Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of April 2012 stood at US$295.6 billion (end-March 2012: US$294.6 billion).

The total foreign currency reserve assets of US$295.6 billion represent over eight times the currency in circulation or about 55% of Hong Kong dollar M3.