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Hong Kong’s Forex Reserves Dip Slightly

(MENAFN) Hong Kong’s foreign exchange reserves stood at 427.9 billion U.S. dollars by the end of December, a modest decline from 429.4 billion dollars recorded at the close of November, the Hong Kong Monetary Authority reported on Wednesday.

According to the authority, the December reserves were equivalent to more than five times the amount of currency in circulation, representing roughly 38 percent of Hong Kong dollar M3.

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