HONG KONG -- Hong Kong's total assets of the Exchange Fund went up HK$57.8 billion ($7.4 billion) in July, bringing the balance to HK$2.491 trillion by the end of the month, according to figures released by the Monetary Authority on Wednesday.

The figures showed foreign currency assets were up HK$47.6 billion and Hong Kong dollar assets rose HK$10.2 billion.

The rise in foreign-currency assets was mainly due to an increase in unsettled purchases of securities and valuation gains on foreign-currency investments. The rise in Hong Kong dollar assets was primarily due to placements received from Hong Kong government funds and statutory bodies.

The currency board account showed the monetary base at the end of July was HK$1.056 trillion, up HK$1.5 billion, or 0.1 percent, on the end of June. The rise was mainly because of an increase in certificates of indebtedness.

Backing assets went up HK$6.4 billion to HK$1.1 trillion. The increase was largely attributable to the issuance of certificates of indebtedness together with revaluation gains and interest from investments.

The backing ratio increased from 108.14 percent at the end of June to 108.59 percent at the end of July.