Sept 30 (Reuters) - Assets at the Exchange Fund, which is used to back the Hong Kong dollar, totalled HK$3,559.7 billion ($459.12 billion) at the end of August, the Hong Kong Monetary Authority (HKMA) said on Friday.
The figure was HK$20.6 billion lower than the total at the end of July, with foreign currency assets falling by HK$27.6 billion while Hong Kong dollar assets rose by HK$7.0 billion, the city’s de facto central bank said in a statement.
The HKMA said the decline in foreign currency assets was mainly due to a decrease in unsettled purchases of securities. The rise in Hong Kong dollar assets was mainly due to the increase in market value of Hong Kong equities.
$1 = 7.7533 Hong Kong dollars Reporting by Twinnie Siu in HONG KONG; Editing by Vyas Mohan