Total assets of Exchange Fund down HKD23.6 bln in Aug

HKMA announced that the total assets of the Exchange Fund amounted to HKD1,000.4 billion as at August 31, $23.6 billion lower than at the end of July 2001. Both foreign currency assets and Hong Kong dollar assets decreased, by HKD8.3 billion and HKD15.3 billion respectively. The monetary base at the end of August 2001 was $221.8 billion, increasing by HKD2 billion, or 0.9 percent, from the end of July 2001. The backing assets increased by HKD2.2 billion to HKD247.1 billion. The backing ratio remained unchanged at 111.39 percent.

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