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Sovereign Wealth Funds Briefing - Categorized | Performance, Reserve Currencies

Exchange Fund reverts to gains in first half on currency returns

Posted on 22 July 2011

Hong Kong, whose foreign-exchange reserves are the world’s seventh largest, posted first-half investment income of HK$46.3 billion on returns from foreign-currency assets, compared with a loss of HK$1.0 billion a year earlier.
The Hong Kong Exchange Fund recorded a HK$22.2 billion gain from investments in currencies other than the US dollar, after reporting a HK$24.3 billion ($3.12 billion) loss in the first six months of last year, thanks to the appreciation of other currencies against the greenback, the Hong Kong Monetary Authority (HKMA), the city’s de facto central bank, said………………………………………Full Article: Source


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