Hong Kong Forex Reserves Rise to Near 4-Year High

Hong Kong’s foreign exchange reserves rose to US$446.5 billion in May 2026 from US$442.1 billion in April, reaching their highest level since June 2022. Including unsettled foreign exchange contracts, the foreign currency reserve assets stood at US$446.2 billion. The reserve assets were equivalent to over five times the currency in circulation and accounted for roughly 38% of Hong Kong dollar M3.

Hong Kong’s foreign exchange reserves rose to US$442.1 billion in April 2026 from US$430.8 billion in March, marking the highest reading since June 2022. There were no unsettled foreign exchange contracts at the end of April, compared with US$0.3 billion in March. Despite the increase, reserves remained ample, equivalent to more than five times the currency in circulation and around 38% of Hong Kong dollar M3.

Hong Kong’s foreign exchange reserves fell to USD 430.8 billion in March 2026, the lowest level since December and down from USD 439.3 billion in the previous month. Including unsettled foreign exchange contracts, reserve assets stood at USD 430.5 billion, compared with USD 439.3 billion at the end of February. Despite the decline, reserves remained substantial, equivalent to more than five times the currency in circulation and around 38% of Hong Kong dollar M3.