This photo taken in Hong Kong on Jan 12, 2008 shows Hong Kong dollar and US dollar banknotes. (LAURENT FIEVET / AFP)
HONG KONG – Hong Kong’s foreign currency reserve assets dropped to $465.7 billion in April from March’s $481.6 billion, the Hong Kong Monetary Authority said on Friday.
The reserve assets represent about six times the currency in circulation or 44 percent of Hong Kong dollar M3.
Including unsettled foreign exchange contracts, the foreign currency reserve assets at the end of April decreased to $464.4 billion from March’s $479.6 billion, the HKMA said.
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