HK Exchange Fund assets down at HK$3,014.1 bln end-Jan -HKMA
Feb 28 (Reuters) - Assets at the Exchange Fund, which is used to back the Hong Kong dollar, totalled HK$3,014.1 billion ($388.41 billion) at the end of January, the Hong Kong Monetary Authority (HKMA) said on Friday.
The figure was HK$15.9 billion lower than the total at the end of December, with foreign currency assets and Hong Kong dollar assets falling HK$11.3 billion and HK$4.6 billion respectively, the city's de facto central bank said in a statement.
The HKMA said the decline in foreign currency assets was mainly due to reduced holding of foreign currency deposits, valuation losses on foreign currency investments and a decrease in unsettled purchases of securities. These decreases were partly offset by an increase in foreign currency assets connected with the issuance of additional Certificates of Indebtedness.
The decline in Hong Kong dollar assets was mainly due to a decrease in Exchange Fund Bills and Notes issued but not yet settled, mark-to-market loss on Hong Kong equities and a decrease in unsettled purchases of securities. These decreases were partly offset by placements received from Fiscal Reserves.
($1 = 7.7601 Hong Kong dollars) (Reporting by Twinnie Siu in HONG KONG; Editing by Gopakumar Warrier)
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