The Chief Executive (CE) Ho Iat Seng is leading a government delegation to Hengqin in Zhuhai, to attend the fourth meeting of the Administrative Committee of the Guangdong-Macao Intensive Cooperation Zone in Hengqin; the Guangdong-Macao Cooperation Joint Conference 2022; and a ceremony to mark the completion of construction of the Customs Supervision Building serving the Cooperation Zone’s “second-tier” tariff area. While the CE is away, the Secretary for Transport and Public Works, Raimundo do Rosário, will be Acting CE, while the other four secretaries are part of the delegation.
Foreign exchange reserves at MOP212.9b
The preliminary estimate of Macau SAR’s foreign exchange reserves amounted to MOP212.9 billion (USD26.34 billion) at the end of August 2022. The reserves increased by 1.4% from the revised value of MOP210.0 billion for the previous month, according to data provided by the Monetary Authority of Macao. The SAR’s foreign exchange reserves at end-August 2022 represented 10 times the currency in circulation or 85.6% of pataca M2 at end-July 2022. The trade-weighted effective exchange rate index for the pataca rose 0.36 points month-to-month and 7.11 points year-on-year to 110.3 in August 2022, implying that the exchange rate of the pataca grew against the currencies of Macau’s major trading partners.
