Foreign assets of the Exchange Fund fell to HK$3,877.1 billion in August

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The Hong Kong Monetary Authority (HKMA) announced on Friday that as of the end of August, the foreign assets of the Exchange Fund were HK$3,417.1 billion, a decrease of HK$54.7 billion from the end of last month.

The monetary base is HK$1,611.2 billion, including certificates of indebtedness, government-issued currency notes and coins, banking system balances, and issued Exchange Fund Bills and Notes.

The Exchange Fund is used to support the Hong Kong dollar. Since 1983, Hong Kong has implemented a linked exchange rate system in which the Hong Kong dollar is pegged to the US dollar.