Slight decrease in foreign exchange reserves

The preliminary estimate of the Macau SAR’s foreign exchange reserves amounted to MOP127.9 billion (USD16.02 billion) at the end of November 2014, the Monetary Authority of Macau announced yesterday. The reserves decreased by 0.7 percent from the revised value of MOP128.8 billion (USD16.12 billion) for the previous month. The MSAR’s foreign exchange reserves at end-November 2014 represented 12 times the currency in circulation, or 102.8 percent of Pataca M2 at end-October 2014. The trade-weighted effective exchange rate index for the pataca, a gauge of the domestic currency’s exchange rates against the currencies of Macau’s major trading partners, rose 1.17 points month-to-month and 3.71 points year-on-year to 100.64 in November 2014.

Categories Macau