‘Experience Macau’ tours Guangdong

The Macau Government Tourist Office (MGTO) has rolled out the “Experience Macau Carnival” in three cities across Guangdong Province (Zhanjiang, Qingyuan and Heyuan) in recent months. The event aims to promote local products as well as events and festivals for tourists. A booth under the theme “Touching Moments, Experience Macau” was set up at the launch ceremony, which was held at the tour’s first stop, Zhanjiang. The booth showcased local places and events, including the historic center of Macau and the Macau Grand Prix. The Experience Macau Carnival visited Hong Kong and Zhuhai in September and October of this year respectively.

Foreign exchange reserves slightly down

The Monetary Authority of Macau announced yesterday that the preliminary estimate of Macau’s foreign exchange reserves at the end of last month amounted to MOP144.9 billion. The reserves are down by 0.3 percent from the revised value of MOP145.3 billion for the previous month. The trade-weighted effective exchange rate index for the pataca dropped 0.4 points month-to-month, however is up by 5.92 points in a year-on-year comparison. This implies an average appreciation of the pataca against other currencies on an annual basis. Foreign exchange reserves at the end of last month represented 12 times the currency in circulation.