Feb 28 (Reuters) - Assets at the Exchange Fund, which is used to back the Hong Kong dollar, totalled HK$3,776.2 billion ($486.54 billion) at the end of January, the Hong Kong Monetary Authority (HKMA) said on Tuesday.
The figure was HK$146.2 billion higher than the total at the end of December, with foreign currency assets increasing by HK$46.4 billion and Hong Kong dollar assets up by HK$99.8 billion, the city’s de facto central bank said in a statement.
The HKMA said the rise in foreign currency assets was mainly due to the issuance of certificates of indebtedness and mark-to-market gains on foreign currency portfolios.
The rise in Hong Kong dollar assets was mainly due to additional placements from fiscal reserves and an increase in exchange fund bills and notes issued but not yet settled. ($1 = 7.7613 Hong Kong dollars)
Reporting by Twinnie Siu in HONG KONG; Editing by Biju Dwarakanath