FX.co ★ Hong Kong Foreign Reserves Highest Since 2023

Hong Kong's foreign exchange reserves rose to $431 billion in May, reaching their highest point since March 2023. This upturn follows a revised figure of $410.2 billion in the prior month. These reserves are over five times the currency currently in circulation and approximately 38% of Hong Kong dollar M3. When including unsettled foreign exchange contracts, the total foreign currency reserves amounted to $430.9 billion.