Hong Kong foreign currency reserves increase

Hong Kong's foreign currency reserve assets stood at 122.6 bln usd at end-April, up from 122.4 bln at the end of March, the Hong Kong Monetary Authority (HKMA) said.

As of end-April, Hong Kong ranked as the world's seventh largest holder of foreign currency reserves after Japan, China, Taiwan, Korea, Russia and India.

The latest level of foreign exchange reserves represent more than six times the currency in circulation, said HKMA, the territory's de-facto central bank.