HK's Exchange Fund assets hit $184 bln in November

HONG KONG, Dec. 31 (Chinese media) -- The total assets of Hong Kong's Exchange

Fund rose 87.5 billion HK dollars (11.3 billion U.S. dollars) to 1.4261 trillion

HK dollars (184 billion U.S. dollars) on Nov. 30 from a month earlier, revealed

the Monetary Authority here Wednesday.

Among the Exchange Fund's total assets, foreign currency assets expanded 87

billion HK dollars (11.24 billion U.S. dollars) while the Hong Kong dollar

assets rose 500 million HK dollars (64.58 million U.S. dollars), according to

the Monetary Authority, Hong Kong's de facto central bank.

The Monetary Authority attributed the rise in foreign currency assets to

purchases of foreign currencies with Hong Kong dollars and valuation gains on

foreign currency investments.

The rise in Hong Kong dollar assets was mainly due to a rise in the balance

of the banking system and placements received from fiscal reserves, which were

substantially offset by the sale of Hong Kong dollars for foreign currencies and

a decrease in bank borrowings.

The Currency Board Account showed Hong Kong's Monetary Base in November was

418.5 billion HK dollars (54 billion U.S. dollars), up 15.4 percent from

October, mainly due to increases in the Aggregate Balance and the market value

of Exchange Fund Bills and Notes outstanding.