Hong Kong's RMB deposits rise 3.4% in July

HONG KONG, Aug. 31 (Xinhua) -- Hong Kong's total deposits with authorized institutions grew 2 percent year on year in July, and Renminbi deposits grew 3.4 percent to 572.2 billion yuan (89.71 billion U.S. dollars), the Monetary Authority of Hong Kong said in a statement on Wednesday.

The total remittance of Renminbi for cross-border trade settlement amounted to 148.97 billion yuan, compared with 205.09 billion yuan in June.

Deposits of foreign currency as a whole grew 1.9 percent in July. Hong Kong dollar deposits also grew 2.1 percent with demand, savings and time deposits rising, the statement said.( 1 U.S. dollar equals 6.378 yuan)

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