Hong Kong Exchange Fund end-Dec foreign assets 985 bln hkd, up 3.5 bln from Nov |
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Mon, 15 Jan 2007 10:31
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HONG KONG (XFN-ASIA) - The Hong Kong Exchange Fund's foreign assets stood at 985.0 bln hkd as of end-December 2006, up 3.5 bln hkd from the end-November level, the Hong Kong Monetary Authority (HKMA) said.The HKMA uses the Exchange Fund to defend the territory's currency peg to the US dollar.It said that the monetary base, comprised of certificates of indebtedness, government-issued currency notes and coins in circulation,as well as the aggregate balance of the banking system and Exchange Fund bills and notes issued, amounted to 298 bln hkd in December.Claims on the private sector stood at 52.5 bln hkd, it said.Foreign liabilities, representing mainly obligations under repurchase agreements, amounted to 0.2 bln hkd, the HKMA added.roby.lau@xfn.comrl/net
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