HONG KONG - The Hong Kong Monetary Authority said on Monday that the foreign assets of the exchange fund in January 2011 grew by HK$3.7 billion ($470 million).

Foreign assets, representing the external assets of the exchange fund, amounted to HK$2,039.4 billion in January.

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The monetary base, comprising certificates of indebtedness, government issued currency notes and coins in circulation, the aggregate balance and exchange fund bills and notes issued, amounted to HK$1,064.2 billion.

Claims on the private sector in Hong Kong amounted to HK$195.3 billion.

Foreign liabilities, representing mainly obligations under repurchase agreements, amounted to HK$300 million.