9.
The Chief Executive of the HKMA, Mr Joseph Yam, said: "This is part of our on-going effort to increase transparency in our operations. Monthly disclosure of our foreign reserves is in line with the practice of major economies and is a recommendation of the International Monetary Fund.
"We have come a long way in the last few years. We only started releasing figures on the Exchange Fund in 1992. Since then, the HKMA has progressed from annual to half-yearly, quarterly and now to monthly release of figures on foreign reserves."
Foreign Reserves Ranking
Japan
China
US$217 billion Nov 96 US$105 billion Dec 96
Germany
US$91 billion Nov 96
Taiwan
United States
US$88 billion Dec 96 US$78 billion Oct 96
Singapore 96
US$76 billion Nov 96
Hong Kong Spain
US$64 billion Dec 96
US$$7 billion Nov 96
Sources: IMF. HKMA
Exchange Fund Foreign Currency Assets
(US$ Bn)
Excluding forward transactions
Including
Net forward
transactions
forward transactions
March 95
52.4
(0.2)
52.2
June 95
53.6
53.6
September 95
51.8
2.8
54.6
December 95
55.4
1.8
57,2
March 96
58.1
1.7
59.8
June 96
57.3
2.7
60.0
September 96
55.4
6.7
62,1
December 96
63.8
5.7
69.6
End