Hong Kong Foreign Reserves Highest Since 2023

Foreign exchange reserves in Hong Kong increased to $431 billion in May, marking the highest level since March 2023, from an upwardly revised $410.2 billion in the previous month.

The amount represented more than five times the currency in circulation, or about 38% of Hong Kong dollar M3.

Including unsettled foreign exchange contracts, the foreign currency reserve asserts amounted to $430.9 billion.