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

(Xinhua) Updated: 2012-06-08 15:46

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.

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