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HK Exchange Fund Total Asset at End-Apr Declines $44.2B MoM to $4,030B
HKMA announced today (May 31) that the total assets of the Exchange Fund amounted to HKD4,030 billion as at April 30, 2023, HKD44.2 billion lower than that at the end of March 2023...
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HK Exchange Fund Total Asset at End-Apr Declines $44.2B MoM to $4,030B
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HKMA announced today (May 31) that the total assets of the Exchange Fund amounted to HKD4,030 billion as at April 30, 2023, HKD44.2 billion lower than that at the end of March 2023. Foreign currency assets decreased by HKD39.7 billion and HKD assets decreased by HKD4.5 billion.

The decline in foreign currency assets was mainly due to the sale of USD under the Currency Board arrangements and the withdrawals of Fiscal Reserves placements, which were partly offset by an increase in the interest income and the mark-to-market revaluation on investments. The decline in HKD assets was mainly due to the mark-to-market revaluation on Hong Kong equities.

The Currency Board Account showed that the Monetary Base at the end of April 2023 was HKD1,880 billion, decreased by HKD24.2 billion, or 1.3%, from the end of March 2023. The decline was mainly due to the purchase of HKD under the Currency Board arrangements.

The amount of Backing Assets decreased by HKD17.4 billion, or 0.8%, to HKD2,110 billion at the end of April 2023. The decrease was mainly attributable to the sale of USD under the Currency Board arrangements, which was partly offset by the interest from investments. The backing ratio increased from 111.86% at the end of March 2023 to 112.38% at the end of April 2023.
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