Briefs | Forex reserves reach over MOP130.2b in August

The preliminary estimate of Macau’s foreign exchange reserves reached MOP130.2 billion (USD16.31b) at the end of August 2014, according to figures released on Monday by the Monetary Authority of Macau. The reserves for August increased by 2.0 percent from the revised value of MOP127.6 billion (USD15.99b) recorded for the previous month. By the end of August, the region’s foreign exchange reserves represented 13 times the currency in circulation at the end of July this year. 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 0.39 points year-on-year to 97.71 in August this year.

85 apply to study arts and culture abroad

The Cultural Affairs Bureau (IC) has received a total of 85 applications for its financial aid program for local students wanting to enroll in arts-related academic programs abroad. The IC approved 74 of these applications, which met all requirements set by the department. Candidates will study in educational institutions overseas, and have chosen a wide range of areas related to culture and arts. The IC said in a statement that eligible candidates underwent a thorough evaluation process, focusing on individual abilities and past educational achievements. A second-stage interview to select candidates was also conducted.