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Foreign currency reserves up

Hong Kong's foreign currency reserve assets rose to US$423.2 billion in November from October's US$417.2 billion, the Monetary Authority announced today.   The reserve assets represent over five times the currency in circulation or about 42% of Hong Kong dollar M3.   There were no unsettled foreign exchange contracts at the end of November. http://dlvr.it/Sf21yd

Extra allowance disbursement starts

The Government today announced that recipients of social security payments and Working Family Allowance (WFA) will receive a one-off extra allowance from today.   As proposed in the 2022-23 Budget, the one-off extra allowance is equal to a half-month of the standard rate of Comprehensive Social Security Assistance payments, Old Age Allowance, Old Age Living Allowance or Disability Allowance.   Recipients who were eligible for social security payments on May 4 and those whose approved WFA applications were made between November 1, 2021 and May 4 will be eligible for the one-off extra allowance.   It is estimated that about 1.48 million social security recipients and 72,000 WFA households will benefit from the arrangements, involving a total of over $2.5 billion.   The payment will be credited to the designated Hong Kong bank accounts of the eligible households and recipients and no separate application is necessary.   Recipients of social security payments may call 2343 2255 or contact the respective Social Security Field Unit for enquiries.   As for enquiries on the WFA Scheme, call 2558 3000 or visit its website.
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