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HK reserve assets rise
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HONG KONG'S official foreign currency reserve assets amounted to US$107.5 billion at the end of 2000, with an increase of US$3.3 billion over 1999.
Including unsettled forward contracts, the foreign currency reserve assets of Hong Kong at the end of December, 2000, also stood at US$107.5 billion according to the figures released on Monday by the Hong Kong Monetary Authority.
The authority attributed the increase in foreign currency reserve to evaluation gains on foreign currency investments and increase in currency notes outstanding.
Hong Kong is now exceeding Taiwan as the world's third largest holder of foreign currency reserves, after Japan and China's mainland.
Taiwan's foreign exchange reserves hit a 12-month low at the end of December 2000 to reach US$106.71 billion, according to figures released by Taiwan mass media.
Foreign exchange reserves at the end of December were US$1.49 billion less than that of the previous month, and indicated the sixth month-on-month decline in a row, statistics showed. Analysts attributed the shrinkage mainly to weakness in the New Taiwan dollar. (SD News)
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