The Exchange Fund of Hong Kong's foreign assets grew by 111.8 billion HK dollars (14.38 billion U.S. dollars) in November over October to reach 2.3914 trillion HK dollars (307.65 billion U.S. dollars), the Monetary Authority of Hong Kong said on Friday.

The Monetary Authority of Hong Kong said the monetary base amounted to 1.0308 trillion HK dollars (132.61 billion U.S. dollars), down 1 billion HK dollars (128.65 billion U.S. dollars) on October. The decline was mainly due to a decrease in certificates of indebtedness.

Backing assets fell to 1.1144 trillion HK dollars (143.37 billion U.S. dollars), mainly attributable to the redemption of certificates of indebtedness and revaluation losses, which were partly offset by interest from investments.