HONG KONG -- Hong Kong's official foreign currency reserve assets amounted to $298.2 billion at the end of August, compared with $296.3 billion?on the end of July, the city's Monetary Authority announced Friday.

Including unsettled forward contracts, the foreign currency reserve assets at the end of August stood at $298.2 billion, while the figure was $296.3 billion at the end of July.

The figure represents over eight times the currency in circulation, or about 55 percent of Hong Kong dollar M3.