Total foreign reserve assets of US$432.8 billion represent about seven times the currency in circulation in Hong Kong or 45 per cent of the city’s total money supply, added the Hong Kong Monetary Authority, the city’s de facto central bank. Photo: Handout
Total foreign reserve assets of US$432.8 billion represent about seven times the currency in circulation in Hong Kong or 45 per cent of the city’s total money supply, added the Hong Kong Monetary Authority, the city’s de facto central bank. Photo: Handout
Hong Kong economy
Economy /  Global Economy

Capital outflows amid Hong Kong’s protests could have caused record drop in forex reserves, analysts say

  • Foreign exchange reserves fell from a record high of US$448.4 billion in July to US$432.8 billion in August
  • The US$15.6 billion decline was the biggest since the data was first published in 1997, according to the Hong Kong Monetary Authority

Karen YeungSidney Leng
Karen Yeung and Sidney Leng

Updated: 7:10pm, 12 Sep, 2019

Why you can trust SCMP
Total foreign reserve assets of US$432.8 billion represent about seven times the currency in circulation in Hong Kong or 45 per cent of the city’s total money supply, added the Hong Kong Monetary Authority, the city’s de facto central bank. Photo: Handout
Total foreign reserve assets of US$432.8 billion represent about seven times the currency in circulation in Hong Kong or 45 per cent of the city’s total money supply, added the Hong Kong Monetary Authority, the city’s de facto central bank. Photo: Handout
READ FULL ARTICLE