Foreign currency reserves down

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Foreign currency reserves down

Hong Kong’s foreign currency reserve assets dropped to US$423.1 billion in October from US$426.4 billion in September, the Monetary Authority announced today.

Including unsettled foreign exchange contracts, foreign currency reserve assets at the end of October dropped to US$415.5 billion from US$418.8 billion in September.

The reserve assets represent about seven times the currency in circulation or 45% of Hong Kong dollar M3.

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