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Foreign currency reserves hit US$421.6b in July

It rose from the US$417.3b record in June.

Hong Kong's foreign currency reserve assets dropped to US$421.6b in July from US$417.3b in June.

According to the Monetary Authority, the reserve assets represent over five times the currency in circulation or about 40% of Hong Kong dollar M3.

“There were no unsettled foreign exchange contracts at the end of July,” added the Monetary Authority.
 

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