Foreign exchange reserves in Hong Kong decreased to $425.4 billion in July 2025 from an upwardly revised $432 billion in the previous month, marking the lowest level since April. The reserves represented more than five times the currency in circulation, or about 37% of the Hong Kong dollar M3. Including unsettled foreign exchange contracts, foreign currency reserve assets totaled $424.5 billion in July, compared with $431.9 billion in June 2025.