The Monetary Authority of Macau (AMCM) announced yesterday that the MSAR’s foreign exchange reserves amounted to MOP153.2 billion (USD19.13 billion) at the end of February 2016.
According to AMCM’s preliminary estimate, the reserves decreased by 1.4 percent from the revised value of MOP155.4 billion (USD19.39 billion) for the previous month. The local foreign exchange reserves at the end of February 2016 represented 12 times the currency in circulation at the end of January 2016.
The data released by the Monetary Authority indicates that the trade-weighted effective exchange rate index for the pataca dropped 1.23 points month-on-month, but rose 2.74 points year-on-year to 106.41 in February 2016. This suggests that the pataca depreciated against the currencies of Macau’s major trading partners on a monthly basis, but appreciated on an annual basis.
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