HK exchange fund assets up in July

HONG KONG - The total assets of the exchange fund of Hong Kong stood at HK$2.6078 trillion?($336.15 billion) at the end of July, up HK$53.4 billion on June, the Monetary Authority said on Friday.

Hong Kong's foreign-currency assets increased by HK$32.8 billion and Hong Kong-dollar assets grew by HK$20.6 billion.

The Monetary Base at the end of July was HK$1.0861 trillion, a decrease of HK$800 million from the end of June. The decline was mainly due to an decrease in Certificates of Indebtedness.

Backing assets increased by HK$1.2 billion to HK$1.1853 trillion. The backing ratio increased from 108.95 percent to 109.14 percent.