Exchange Fund Assets Rise
The Exchange Fund's total assets rose to $4.168 trillion at the end of April, up by $17.9 billion on the previous month, the Monetary Authority announced today.
Foreign currency assets decreased by $34 billion and Hong Kong dollar assets increased by $51.9 billion.
The Monetary Base was $1.6706 trillion, down by 3.4% on the previous month due to a decrease in the balance of the banking system and the outstanding amount of Certificates of Indebtedness.
The amount of Backing Assets fell 3.1% to $1.8167 trillion due to the sale of US dollars under the Currency Board arrangements and the redemption of Certificates of Indebtedness.
The backing ratio increased from 108.42% to 108.74%.
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