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WEDNESDAY, SEPTEMBER 30, 1987
FOREIGN CURRENCY DEPOSITS INCREASED BY 1.4 PER CENT IN AUGUST AFTER AN INCREASE OF 2.5 PER CENT IN JULY. THESE DEPOSITS GREW BY 3.5 PER CENT OVER THE THREE MONTHS TO AUGUST AND BY 31.5 PER CENT OVER THE YEAR. OF THE TOTAL, DEPOSITS IN U.S. DOLLARS ROSE BY THREE PER CENT IN AUGUST WHILE DEPOSITS IN OTHER FOREIGN CURRENCIES FELL BY 1.1 PER CENT.
CENT IN DEPOSITS
FOREIGN CURRENCY SWAP DEPOSITS INCREASED BY 4.2 PER AUGUST. ADJUSTED TO INCLUDE THESE DEPOSITS, HONG KONG DOLLAR GREW BY 2.1 PER CENT IN AUGUST WHILE ADJUSTED FOREIGN CURRENCY DEPOSITS INCREASED BY 1.1 PER CENT.
DEPOSITS (ALL CURRENCIES) WITH BANKS INCREASED BY 1.6 PER CENT IN AUGUST WHILE THOSE WITH DEPOSIT-TAKING COMPANIES INCREASED BY 1.7 PER CENT. FOR THE THREE MONTHS ENDING AUGUST, DEPOSITS IN BOTH KINDS OF DEPOSIT-TAKING INSTITUTIONS INCREASED BY FIVE PER CENT OVER THE YEAR, DEPOSITS WITH BANKS GREW BY 32.5 PER CENT BUT THOSE WITH DEPOSIT-TAKING COMPANIES FELL BY 0.9 PER CENT.
MONEY SUPPLY
HONG KONG DOLLAR M1 SHOWED LITTLE CHANGE IN AUGUST, WITH THE FALL IN HONG KONG DOLLAR DEMAND DEPOSITS BEING OFFSET BY AN INCREASE IN NOTES AND COINS IN CIRCULATION. ON THE OTHER HAND, BOTH HK$M2 AND HK$M3 INCREASED BY 1.8 PER CENT IN AUGUST, COMPARED WITH THEIR RESPECTIVE GROWTH RATES OF 1.8 PER CENT AND 2.3 PER CENT IN THE PREVIOUS MONTH. OVER THE YEAR THE GROWTH IN HK$M1, M2 AND M3 WERE 26.6 PER CENT, 29.5 PER CENT AND 25 PER CENT RESPECTIVELY.
TOTAL MONEY SUPPLY ON ALL DEFINITIONS INCREASED IN AUGUST. TOTAL M1 GREW BY 1.8 PER CENT IN AUGUST AFTER A FALL OF 2.6
CENT IN JULY. TOTAL M2 AND TOTAL M3, ON THE OTHER HAND, BOTH INCREASED BY 1.6 PER CENT IN AUGUST COMPARED WITH CORRESPONDING INCREASES OF 2.2 PER CENT AND 2.4 PER CENT IN JULY. OVER THE YEAR, TOTAL M1 GREW BY 28.4 PER CENT, TOTAL M2 BY 32.3 PER CENT AND TOTAL M3 BY 28.4 PER CENT.
/LOANS AND