HK's exchange fund assets up in March

HONG KONG - Hong Kong's total assets of the exchange fund amounted to HK$2.5411 trillion ($327.55 billion) at the end of March, up HK$1.6 billion on February, the Hong Kong Monetary Authority said Monday.

The department also said that foreign-currency assets increased by HK$17.5 billion and Hong Kong dollar assets decreased by HK$15.9 billion.

The Currency Board Account showed the Monetary Base at the end of March was HK$1.0858 trillion, up HK$4.5 billion, or 0.4 percent, from the end of February. The rise was mainly due to an increase in Certificates of Indebtedness.

According to statistics, backing assets increased by HK$3.4 billion, or 0.3 percent, to HK$1.1782 trillion, and the backing ratio decreased from 108.65 percent at the end of February to 108.51 percent at the end of March.