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HK Exchange Fund's assets hit HK$2.49 trln at end-Dec

Feb. 2, 2012 (China Knowledge) - The Hong Kong Monetary Authority, Hong Kong's de facto central bank, has announced that the total assets of Hong Kong's Exchange Fund had increased HK$2.3 billion from the previous month to HK$2.49 trillion at the end of December.

There was an increase of HK$10.4 billion in foreign currency assets and a growth of HK$8.1 billion in Hong Kong dollar assets.

The HKMA attributed the growth in foreign currency assets to increase in certificates of indebtedness and purchases of foreign currencies with Hong Kong dollars. The increase was partly offset by a decrease in unsettled purchases of securities.
The growth in Hong Kong dollar assets was mainly sales of Hong Kong dollars for foreign currencies.

In a statement, the HKMA said that the monetary base increased by HK$15.8 billion or 1.49% from the end of November to HK$1.08 trillion as of the end of December.

The HKMA said earlier that the Exchange Fund recorded an investment income of HK$26.7 billion or a 1.1% investment return in 2011.

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