The official foreign currency reserve assets of Hong Kong amounted to US$431.9 billion as at the end of June, up US$500 million from US$431.1 billion at end-May, as announced by the Hong Kong Monetary Authority (HKMA). Including unsettled foreign exchange contracts, the foreign currency reserve assets of Hong Kong at the end of June amounted to US$431.8 billion, compared with US$431 billion at end-May. The total foreign currency reserve assets of US$431.9 billion represent over five times the currency in circulation or about 37% of Hong Kong dollar M3.