Hong Kong July Forex Reserves Increase

The Hong Kong official foreign currency reserve assets increased to US$ 218.1 billion in July from US$ 207 billion in June, the Hong Kong Monetary Authority or HKMA said on Friday. The international reserves, including unsettled forward contracts stood at US$ 219.8 billion in July, up from US$ 208.2 billion in June. The total foreign currency reserve assets represent about nine times the currency in circulation or 48% of Hong Kong dollar M3, the HKMA said.