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Foreign assets in Hong Kong Exchange Fund HK$3.5 trln at end-Dec

Jan 12 (Reuters) - Foreign assets in Hong Kong's Exchange Fund stood at HK$3,507.9 billion ($448.40 billion) at the end of December, up HK$83.3 billion from the previous month, the Hong Kong Monetary Authority said on Friday.

The Exchange Fund backs the local currency, which has been pegged to the U.S. dollar since 1983. ($1 = 7.8231 Hong Kong dollars) (Reporting by Twinnie Siu; Editing by Subhranshu Sahu)