Foreign exchange reserves at MOP221b

The preliminary estimate of the SAR’s foreign exchange reserves sits at MOP221.1 billion at the end of October 2023, the Monetary Authority of Macao announced. The reserves increased 0.4% from the revised value of MOP220.1 billion for the previous month. Macau’s foreign exchange reserves at end-October 2023 represented 11 times the currency in circulation or 89.3% of pataca M2 at end-September 2023. Also, the pataca increased against the currencies of Macau’s major trading partners on a monthly basis but dropped on an annual basis.