Foreign exchange reserves fell from a record high of US$448.4 billion in July to US$432.8 billion last month, with the sharp US$15.6 billion decline the biggest since monthly data was first published in 1997. Photo: Bloomberg
Hong Kong’s forex reserves drop in August due to ‘technical classification’, monetary authority says
- Foreign exchange reserves fell from a record US$448.4 billion in July to US$432.8 billion, the biggest drop since monthly data was first published in 1997
- The sharp US$15.6 billion decline was due to assets being transferred to local banks, according to the Hong Kong Monetary Authority
Topic |
Hong Kong economy
Foreign exchange reserves fell from a record high of US$448.4 billion in July to US$432.8 billion last month, with the sharp US$15.6 billion decline the biggest since monthly data was first published in 1997. Photo: Bloomberg