April 30 (Reuters) - Assets at the Exchange Fund, which is used to back the Hong Kong dollar, totalled HK$2,886.1 billion ($371.87 billion) at the end of March, the Hong Kong Monetary Authority (HKMA) said on Tuesday.
The figure was HK$9.7 billion lower than at end-February, with foreign currency assets rising HK$5.2 billion and Hong Kong dollar assets falling HK$14.9 billion respectively, the city's de facto central bank said in a statement.
The HKMA said the rise in foreign currency assets was mainly due to valuation gains on foreign currency investments. The decline in Hong Kong dollar assets was mainly due to fiscal drawdowns and valuation losses on Hong Kong equities. ($1 = 7.7610 Hong Kong dollars)
(Reporting by Raymond Leung in HONG KONG; Editing by Kim Coghill) Keywords: ECONOMY HONGKONG EXCHANGEFUNDASSETS
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