Foreign exchange reserves at MOP220b

The Monetary Authority of Macao announced yesterday that the preliminary estimate of the SAR’s foreign exchange reserves amounted to MOP220.6 billion at the end of August. The reserves increased by 1.4% from the previous month’s revised value of MOP217.4 billion. Macau SAR’s foreign exchange reserves at end-August 2023 represented 11 times the currency in circulation or 88.0% of pataca M2 at end-July 2023.