HONG KONG EXCHANGE FUND FOREIGN ASSETS UP

The Exchange Fund’s foreign assets increased by HK$10.5 billion in June to HK$2.6706 trillion, the Hong Kong Monetary Authority announced today.

The Monetary Base amounted to $1.2628 trillion. 

Claims on the private sector in Hong Kong amounted to $160.3 billion. 

Foreign liabilities, representing fees payable to the fund's external managers, amounted to $300 million.

The HKMA, under the delegated authority of the Financial Secretary and within the terms of the delegation, is responsible to the Financial Secretary for the use of the Exchange Fund, and for the investment management of the Exchange Fund.

The Exchange Fund's primary objective, as laid down in the Exchange Fund Ordinance, is to affect, either directly or indirectly, the exchange value of the currency of Hong Kong.  The Fund may also be used to maintain the stability and integrity of Hong Kong's monetary and financial systems to help maintain Hong Kong as an international financial centre.