Exchange Fund Abridged Balance Sheet and Currency Board Account

Press Releases

31 Mar 2026

Exchange Fund Abridged Balance Sheet and Currency Board Account

The Hong Kong Monetary Authority (HKMA) announced today (31 March) that the total assets of the Exchange Fund amounted to HK$4,293.5 billion as at 28 February 2026, HK$7.9 billion higher than that at the end of January 2026.  Foreign currency assets increased by HK$47.4 billion while Hong Kong dollar assets decreased by HK$39.5 billion.

The rise in foreign currency assets was mainly due to interest income and mark-to-market revaluation of investments, and issuance of Certificates of Indebtedness.  The decline in Hong Kong dollar assets was mainly due to a decrease in placements with banks.

The Currency Board Account shows that the Monetary Base at the end of February 2026 was HK$2,071.5 billion, grew by HK$12.8 billion, or 0.6%, from the end of January 2026.  The growth was mainly due to the increase in the outstanding amount of Certificates of Indebtedness and the amortisation of discount on Exchange Fund Bills and Notes issued.

The amount of Backing Assets increased by HK$26.1 billion, or 1.1%, to HK$2,306.0 billion at the end of February 2026.  The increase was mainly attributable to the issuance of Certificates of Indebtedness, mark-to-market revaluation of investments and interest income from investments.  The Backing Ratio increased from 110.74% at the end of January 2026 to 111.32% at the end of February 2026.

Annex 1: Abridged Balance Sheet of the Exchange Fund
Annex 2: Currency Board Account

Hong Kong Monetary Authority
31 March 2026

At present, four press releases relating to the Exchange Fund’s data are issued by the HKMA each month.  Three of these releases are issued to disseminate monetary data in accordance with the International Monetary Fund’s Special Data Dissemination Standard (SDDS).  The fourth press release, on the Exchange Fund’s Abridged Balance Sheet and Currency Board Account, is made in accordance with the HKMA’s policy of maintaining a high level of transparency.  For the month of March 2026, the scheduled dates for issuing the press releases are as follows:

| 6 March
(Issued) | SDDS International Reserves
(Hong Kong’s Latest Foreign Currency Reserve Assets Figures) |
| 13 March
(Issued) | SDDS Analytical Accounts of the Central Bank
(Analytical Accounts of the Exchange Fund) |
| 31 March | SDDS Template on International Reserves and
Foreign Currency Liquidity |
| 31 March | Exchange Fund Abridged Balance Sheet and
Currency Board Account |
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