HK exchange fund foreign assets dip in April

HONG KONG - The Hong Kong Monetary Authority said Monday the city's foreign assets of the exchange fund shrank by HK$5.5 billion ($710 million) in April.

The Monetary Base, comprising certificates of indebtedness, government issued currency notes and coins in circulation, the aggregate balance and Exchange Fund bills and bank notes issued, amounted to HK$1,087.2 billion.

Claims on the private sector in Hong Kong stood at HK$135.1 billion.

Foreign liabilities, representing fees payable to the Exchange Fund's external managers, amounted to HK$300 million.