November 30, 2017 / 9:19 AM / a year ago

Hong Kong Exchange Fund end-Oct assets at HK$4 trln - HKMA

Nov 30 (Reuters) - Assets at the Exchange Fund, which is used to back the Hong Kong dollar, totalled HK$4,005.4 billion ($512.98 billion) at the end of October, the Hong Kong Monetary Authority (HKMA) said on Thursday.

The figure was HK$102.9 billion higher than the total at the end of September, with foreign currency assets and Hong Kong dollar assets rising HK$39.1 billion and HK$63.8 billion respectively, the city’s de facto central bank said in a statement.

The HKMA said the rise in foreign currency assets was mainly due to an increase in unsettled purchases of securities and mark-to-market gains on foreign currency portfolios.

The rise in Hong Kong dollar assets was mainly due to an increase in Exchange Fund Bills and Notes issued but not yet settled and additional placements from Fiscal Reserves, it added. ($1 = 7.8081 Hong Kong dollars) (Reporting by Twinnie Siu in HONG KONG; Editing by Gopakumar Warrier)

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