Hong Kong Exchange Fund's total assets amounted to 1.417 trillion HK dollars (181.90 billion U.S. dollars) on Dec. 31, 2007, up 6.3 billion HK dollars (808.73 million U.S. dollars) over November's figure, Hong Kong Monetary Authority said on Thursday.
Foreign currency assets rose 17.3 billion HK dollars (2.22 billion U.S. dollars) and Hong Kong dollar assets fell by 11 billion HK dollars (1.41 billion U.S. dollars).
The rise in foreign currency assets was mainly due to interest and dividend income from foreign currency assets, purchases of foreign currencies with Hong Kong dollars, and an increase in Certificates of Indebtedness. These increases were partly offset by valuation losses on foreign currency investments and a decrease in repurchase agreements outstanding.
The drop in Hong Kong dollar assets was mainly due to the sale of Hong Kong dollars for foreign currencies and valuation losses on Hong Kong equities held by the Exchange Fund, which were partly offset by placements received from fiscal reserves and an increase in Exchange Fund Bills and Notes issued but not yet settled, the authority said.
The Currency Board Account shows the Monetary Base at the end of December 2007 was 320.2 billion HK dollars (41.10 billion U.S. dollars), up 5.3 billion HK dollars (680.36 million U.S. dollars) or 1.7 percent. The rise was due mainly to an increase in Certificates of Indebtedness reflecting seasonal demand for banknotes around the Christmas-New Year period. This was partly offset by a decrease in the market value of Exchange Fund Bills and Notes outstanding.
Source:Xinhua
|
Comment
Tell A Friend
Print Format
Save Article