Hong Kong Monetary Authority reports Exchange Fund assets rise to HKD 4,152.2 billion and backing ratio to 109.80%

The Hong Kong Monetary Authority published the Exchange Fund abridged balance sheet and Currency Board Account, showing total Exchange Fund assets of HKD 4,152.2 billion at 30 September 2025, up HKD 82.0 billion from end-August. Hong Kong dollar assets increased by HKD 97.2 billion while foreign currency assets decreased by HKD 15.2 billion. The increase in Hong Kong dollar assets was mainly driven by higher Exchange Fund Bills and Notes issued but not yet settled at month end and mark-to-market revaluation of Hong Kong equities. The decline in foreign currency assets was mainly due to withdrawals of Fiscal Reserves placements and lower month-end balances of unsettled purchase of securities, partly offset by interest income and mark-to-market revaluation of investments. In the Currency Board Account, the Monetary Base rose by HKD 6.0 billion (0.3%) to HKD 2,020.2 billion, mainly reflecting a higher outstanding amount of Certificates of Indebtedness and the amortisation of discount on Exchange Fund Bills and Notes issued; Backing Assets increased by HKD 7.0 billion (0.3%) to HKD 2,218.2 billion, mainly due to interest income, lifting the Backing Ratio to 109.80% from 109.78%. The HKMA also reiterated that it issues four monthly press releases on Exchange Fund data, including three to disseminate monetary data under the International Monetary Fund’s Special Data Dissemination Standard and this release as part of its transparency policy, and it listed the October 2025 release schedule.