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Hong Kong's exchange fund hits HK$1.64t in April

(Xinhua)
Updated: 2009-05-31 13:26

Hong Kong's total assets of the exchange fund stood at HK $1.65 trillion by April 30, 2009, HK$41.5 billion more than the amount at the end of March, the Monetary Authority said Friday.

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Foreign currency assets rose HK$34.5 billion and Hong Kong dollar assets grew by HK$7 billion.

The rise in foreign-currency assets was mainly due to purchases of foreign currencies with Hong Kong dollars and valuation gains on foreign-currency investments, while the rise in Hong Kong dollar assets was due to an increase in the balance of the banking system and valuation gains on Hong Kong equities held by the exchange fund.

The currency board account shows the monetary base at the end of April was HK$618.8 billion, 8.6 percent higher than at the end of March. The rise was largely prompted by increases in the aggregate balance and certificates of indebtedness.