The Hong Kong Monetary Authority said today the total assets of the Exchange Fund amounted to HK$3,107 billion as at 31 August 2014, HK$27.8 billion higher than that at the end of July 2014. Foreign currency assets rose HK$28.2 billion while Hong Kong dollar assets fell HK$0.4 billion.
The rise in foreign currency assets was mainly due to the purchase of foreign currencies with Hong Kong dollars, valuation gains on foreign currency investments and the issuance of Certificates of Indebtedness. The decline in Hong Kong dollar assets was mainly due to fiscal drawdowns, which was largely offset by additional placements received from HKSAR government funds and statutory bodies.
The Currency Board Account shows that the Monetary Base at the end of August 2014 was HK$1,338.9 billion, grew HK$23.8 billion, or 1.8%, from the end of July 2014. The rise was mainly due to increases in the Aggregate Balance and the outstanding amount of Certificates of Indebtedness.
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