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Total Assets of HK Exchange Fund Lifts $22.9B MoM to $4.0638T at End-Mar
The Hong Kong Monetary Authority (HKMA) announced that the total assets of the Exchange Fund amounted to HK$4,063.8 billion as at March 31, 2024, HK$22.9 billion higher than that a...
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Total Assets of HK Exchange Fund Lifts $22.9B MoM to $4.0638T at End-Mar
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The Hong Kong Monetary Authority (HKMA) announced that the total assets of the Exchange Fund amounted to HK$4,063.8 billion as at March 31, 2024, HK$22.9 billion higher than that at the end of February 2024. Foreign currency assets increased by HK$23.2 billion while Hong Kong dollar assets decreased by HK$0.3 billion.

The rise in foreign currency assets was mainly due to mark-to-market revaluation of investments and interest income from investments. The decline in Hong Kong dollar assets was mainly due to mark-to-market revaluation of Hong Kong equities and reduction in the month-end balances of unsettled purchase of securities.

The Currency Board Account shows that the Monetary Base at the end of March 2024 was HK$1,918.1 billion, increased by HK$8.4 billion, or 0.4%, from the end of February 2024. The increase was mainly due to the increase in the outstanding amount of Certificates of Indebtedness and amortisation of discount on Exchange Fund Bills and Notes.

The amount of Backing Assets increased by HK$13.6 billion, or 0.6%, to HK$2,131.5 billion at the end of March 2024. The increase was mainly attributable to interest from investments and the issuance of Certificates of Indebtedness. The Backing Ratio increased from 110.90% at the end of February 2024 to 111.12% at the end of March 2024.

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