Foreign exchange reserves decline in July

The Monetary Authority (AMCM) has reported a decrease in foreign exchange reserves for July, totaling 229 billion patacas, down 1.4% from June’s 232.3 billion patacas. This figure represents approximately 11 times the currency in circulation and 91.7% of the broad money supply (M2) in Macau. Additionally, the trade-weighted exchange rate index fell to 105.3, a slight decrease of 0.17 points from June, although it increased by 2.43 points year-over-year. This indicates a monthly decline in the pataca’s value against major trading partner currencies, with expectations of an upward trend in the coming months.