The Hong Kong Monetary Authority oversees Hong Kong’s monetary system. It was founded in 1993 when the Office of the Exchange Fund merged with the Office of the Commissioner of Banking. Its responsibilities include maintaining currency stability, monitoring Hong Kong’s banking system and managing the Exchange Fund.
Exchange Fund income jumps to HK$41.2b in Q3
Reuters in Hong Kong
Investment income of Hong Kong’s Exchange Fund, which is used to back the Hong Kong dollar, was HK$41.2 billion (US$5.3 billion) for the third quarter, the Hong Kong Monetary Authority (HKMA) said on Monday.
The figure compared with a net investment loss of HK$41.7 billion in the same period a year earlier.
Investment income for the first nine months stood at HK$80.1 billion.
The HKMA is the key manager of the Exchange Fund, which is under the control of the financial secretary and invests in equities, bonds, foreign exchange and other securities and assets.