HK exchange fund assets up HK$47b in April

HONG KONG - The total assets of the exchange fund of Hong Kong amounted to HK$2.5883 trillion ($333.50 billion) at the end of April, up HK$47.2 billion from March, the Monetary Authority said Thursday.

Hong Kong's foreign-currency assets increased by HK$8.1 billion and Hong Kong dollar assets increased by HK$39.1 billion.

The Currency Board Account showed the Monetary Base at the end of April was HK$1.0872 trillion, up HK$1.3 billion, or 0.1 percent at the end of March. The rise was mainly due to an increase in Certificates of Indebtedness.

Backing assets increased by HK$3.6 billion, or 0.3 percent to HK$1.1818 trillion. The backing ratio increased from 108.51 percent at the end of March to 108.7 percent at the end of April.