Hong Kong's Exchange Fund's total assets amounted to 1.074 trillion Hong Kong dollars (US$137.69 billion) at the end of January, up 63.1 billion HK dollars (US$8.09 billion) on last December, the Hong Kong Monetary Authority announced Friday.

Foreign currency and HK dollar assets rose by 47.9 billion HK dollars (US$6.14 billion) and 15.2 billion HK dollars (US$1.95 billion) respectively, it said.

The rise in foreign and local currency assets were mainly due to the purchase of foreign currencies with HK dollars and an increase in Certificates of Indebtedness, and an increase in the balance of the banking system and placements received from fiscal reserves respectively.

Both increases were partly offset by the sale of HK dollars in exchange for foreign currencies and a fall in bank borrowings.

(Xinhua News Agency February 28, 2004)