HK's foreign currency reserves down $3.7b in May

Hong Kong's official foreign currency reserve assets amounted to $291.9 billion at the end of May, down $3.7 billion from April, the Hong Kong Monetary Authority said here Thursday.

Including unsettled forward contracts, the figures were the same from a year ago.

The total foreign currency reserve assets represent more than eight times the currency in circulation or about 54 percent of Hong Kong dollar M3.