HK's foreign currency reserve assets rise

Hong Kong's official foreign currency reserve assets amounted to 306.5 billion U.S. dollars at the end of April, compared to 303.8 billion U.S. dollars one month earlier, the Hong Kong Monetary Authority announced Tuesday.

Including unsettled forward contracts, the foreign currency reserve assets stood at 307 billion U.S. dollars at the end of April. The figure was 303.8 billion U.S. dollars at the end of March, according to a statement posted on the authority's website.

The 306.5 billion U.S. dollars in assets represented over seven times the currency in circulation, the statement said.