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Home»ADOPTION NEWS»Hong Kong Monetary Authority reports foreign currency reserves in April
ADOPTION NEWS

Hong Kong Monetary Authority reports foreign currency reserves in April

By Crypto FlexsJune 1, 20242 Mins Read
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Hong Kong Monetary Authority reports foreign currency reserves in April
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The Hong Kong Monetary Authority (HKMA) has published analytical data on foreign currency reserves and liquidity in the Hong Kong Special Administrative Region as of the end of April 2024. The data released on May 31, 2024 follows analysis by the International Monetary Fund (IMF). (IMF) Special Data Dissemination Standard (SDDS).

Monthly data releases

According to the HKMA, foreign exchange reserves and liquidity data are published monthly under the IMF’s SDDS framework. The plan aims to strengthen transparency and accountability in economic and financial data reporting. HKMA’s launch schedule for May 2024 includes several key dates.

  • May 7: SDDS International Reserves (latest foreign reserve asset figures)
  • May 14: SDDS Analytics Account central bank (Exchange Fund Analysis Account)
  • May 31st: SDDS Template on International Reserves and Foreign Currency Liquidity
  • May 31st: Exchange Funds Summary Balance Sheet and Monetary Board Accounts

Compliance with international standards

By complying with the IMF’s SDDS, HKMA ensures that reported data meets international standards for accuracy and transparency. The SDDS framework is designed to guide Member States in providing comprehensive and timely economic and financial data to the public. This promotes a better understanding of the country’s financial health and helps increase investor confidence.

exchange funds data

In addition to SDDS-related releases, the HKMA also publishes data on the Exchange Funds’ Summary Balance Sheets and Monetary Committee Accounts. This is part of our policy to maintain a high level of transparency regarding the financial position of the Foreign Exchange Fund. The Foreign Exchange Fund serves as Hong Kong’s main reserve fund, and its management is critical to maintaining the stability of the Hong Kong dollar.

Detailed data can be found on the official website of the Hong Kong Monetary Authority.

global economic situation

Hong Kong’s foreign exchange reserves play an important role in regional financial stability, especially amid global economic uncertainty. As geopolitical tensions persist and global markets fluctuate, maintaining robust foreign exchange reserves is essential to cushion the economy against external shocks. HKMA’s regular updates provide valuable insights to policymakers, investors and analysts monitoring the region’s economic health.

The proactive dissemination of this data highlights Hong Kong’s commitment to transparency and stability in the financial system, aligns with global best practices and strengthens trust among international stakeholders.

Image source: Shutterstock

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