Hong Kong's exchange fund assets down 26.1bn HK dollars

Hong Kong's Exchange Fund's total assets amounted to 2.858 trillion HK dollars (368.77 billion U.S. dollars) at the end of August, down 26.1 billion HK dollars on July, the city's Monetary Authority announced Monday. According to the released figures, foreign currency and Hong Kong dollar assets decreased by 15.1 billion HK dollars and 11 billion HK dollars, respectively. The city's Monetary Base stood at 1.2385 trillion HK dollars at the end of August, up 0.5 percent on the end of July. Backing Assets increased by 0.3 percent, to 1.3313 trillion HK dollars. The backing ratio decreased from 107.67 percent to 107.5 percent at the end of August. (1 U.S. dollar = 7.75 HK dollars)