The Hong Kong Monetary Authority (HKMA) reported that Exchange Fund assets declined by HKD 27.0 billion to HKD 4,308.4 billion at the end of September 2026. Investment revaluations drove the decline. Separately, the monetary base expanded faster than backing assets, reducing the backing ratio. Foreign currency assets decreased by HKD 19.4 billion, mainly because of mark-to-market revaluation of investments. Hong Kong dollar assets fell by HKD 7.6 billion, primarily reflecting mark-to-market revaluation of Hong Kong equities. The monetary base rose by HKD 10.0 billion, or 0.5%, from the end of August to HKD 2,090.2 billion. The increase mainly reflected growth in outstanding Certificates of Indebtedness and amortization of discounts on Exchange Fund Bills and Notes. Backing assets increased by HKD 4.1 billion, or 0.2%, to HKD 2,334.0 billion, mainly through investment interest income and the issuance of Certificates of Indebtedness, partly offset by investment revaluations. The backing ratio declined from 112.00% at the end of August to 111.66% at the end of September.
HKMA reports Exchange Fund assets fell HKD 27.0 billion to HKD 4,308.4 billion in September
The Hong Kong Monetary Authority reported a HKD 27.0 billion decline in Exchange Fund assets to HKD 4,308.4 billion at the end of September 2026, mainly due to investment revaluations. The monetary base grew by 0.5%, while backing assets increased by 0.2%. The backing ratio consequently fell from 112.00% to 111.66%.