The Monetary Authority of Macao announced yesterday that the preliminary estimate of Macau’s foreign exchange reserves at the end of July 2016 amounted to MOP155.2 billion. The reserves increased by 2.6 percent from the revised value of MOP151.2 billion for the previous month. As at the end of July, the MSAR’s foreign exchange reserves remained stable compared to the previous month, representing 12 times the currency in circulation. Meanwhile, the trade-weighted effective exchange rate index for the pataca rose 0.87 points month-to-month and 1.64 points year-on-year in July. This implies that overall, the pataca appreciated against the currencies of Macau’s major trading partners.
Water to be more expensive from November
A change to the territory’s water tariffs will come into force by November, according to information published yesterday in the Official Gazette (BO). According to the information, the price increase will be between 2 and 16 percent for residential water depending on the amount of water consumed. The first 28 cubic meters will cost MOP4.48 per cubic meter, increasing progressively for the next 32 cubic meters (MOP5.18). The next 19 cubic meters will cost MOP6.04. Water consumed over the 79 cubic meters will be charged at MOP7.27 per cubic meter. As for non-residential water, it will have a fixed cost of MOP6.04 per cubic meter, representing an increase of 8 percent.
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