HK's forex reserves reach 317.3 bln USD in 2012

Hong Kong's official foreign currency reserve assets amounted to 317.3 billion U.S. dollars at the end of December last year, up 12.1 billion dollars from November, the city's Monetary Authority announced Monday.

Including unsettled forward contracts, foreign currency reserve assets at the end of December stood at 317.3 billion dollars, compared with 306.8 billion dollars at the end of November.

The figure represents more than eight times the currency in circulation or about 55 percent of Hong Kong dollar M3.