Broad money supply grows by 1.1% to MOP671 billion

Macau’s broad money supply increased slightly by 1.1% month-to-month in September with a stable share of patacas, the special administrative region’s monetary watchdog said yesterday.
According to statistics released by the Monetary Authority, the currency in circulation and demand deposits fell by 1.3% and 2.5% respectively. M1 thus decreased by 2.2% from one month earlier.
On the other hand, quasi-monetary liabilities grew by 1.6%. The sum of these two items, i.e. broad money supply or M2, increased by 1.1% to 671.4 billion patacas (about $83.2 billion).
On an annual basis, M1 and M2 increased by 8.2% and 7.2% respectively, the monetary watchdog added.
The shares of pataca (MOP), Hong Kong dollar (HKD), renminbi (RMB) and U.S. dollar (USD) in M2 were 30.9%, 48.9%, 5.4% and 12.9% respectively.