Hong Kong Monetary Authority Reports April Foreign Currency Reserves
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The Hong Kong Monetary Authority (HKMA) has released analytical data concerning the foreign currency reserves and liquidity of the Hong Kong Special Administrative Region as of the end of April 2024. The data, published on May 31, 2024, conforms to the International Monetary Fund’s (IMF) Special Data Dissemination Standard (SDDS). Monthly Data Release According to the HKMA, the foreign currency reserves and liquidity data are released monthly, in line with the IMF’s SDDS framework. This initiative aims to enhance transparency and accountability in reporting economic and financial data. The HKMA’s release schedule for May 2024 includes several key dates: 7 May: SDDS International Reserves (Latest Foreign Currency Reserve Assets Figures) 14 May: SDDS Analytical Accounts of the Central Bank (Analytical Accounts of the Exchange Fund) 31 May: SDDS Template on International Reserves and Foreign Currency Liquidity 31 May: Exchange Fund Abridged Balance Sheet and Currency Board Account Adherence to International Standards The HKMA’s adherence to the IMF’s SDDS ensures that the reported data meet international standards for accuracy and transparency. The SDDS framework is designed to guide member countries in providing comprehensive and timely economic and financial data to the public. This helps to foster a better understanding of the country’s financial position and enhances investor confidence. Exchange Fund Data In addition to the SDDS-related releases, the HKMA also publishes data on the Exchange Fund’s Abridged Balance Sheet and Currency Board Account. This is part of its policy to maintain a high level of transparency regarding the Exchange Fund’s financial status. The Exchange Fund serves as the primary reserve fund of Hong Kong, and its management is crucial for maintaining the stability of the Hong Kong dollar. The detailed data can be found on the official Hong Kong Monetary Authority website. Global Economic Context Hong Kong’s foreign currency reserves play…
Filed under: News - @ June 2, 2024 12:12 am