As of February 29, 2024, the total assets of the Exchange Fund were HK$4040.9 billion, a decrease of HK$5.7 billion from the end of January 2024.
The Zhitong Finance App learned that on March 28, the Hong Kong Monetary Authority announced that as of February 29, 2024, the total assets of the Exchange Fund were HK$4040.9 billion, a decrease of HK$5.7 billion from the end of January 2024, including a decrease of HK$3.6 billion in foreign currency assets and a decrease of HK$2.1 billion in Hong Kong dollar assets.
The decrease in foreign currency assets was mainly due to a decrease in the month-end balance of purchased but unsettled securities, but the related decline was partially offset by interest income from investments and revaluation of investments at market prices. The decrease in Hong Kong dollar assets was mainly due to a reduction in bank deposits, but the related decline was partially offset by the revaluation of Hong Kong stocks at market prices.
According to the Currency Board accounts, the monetary base at the end of February 2024 was HK$1909.8 billion, a decrease of HK$900 million from the end of January 2024, or 0.05%. The reduction in the monetary base was mainly due to a decrease in the total amount of debt certificates, but the related reduction was partially offset by amortization of Exchange Fund notes and bonds.
Total supported assets decreased by 0.09% to HK$1.8 billion to HK$217.9 billion at the end of February 2024. The reduction in supporting assets was mainly due to the redemption of debt certificates and the revaluation of investments at market prices, but the related reduction was partially offset by interest from the investments. The approval ratio declined from 110.94% at the end of January 2024 to 110.90% at the end of February 2024.