Foreign exchange reserves decline to MOP229b

The Monetary Authority of Macao announced that the preliminary estimate of Macau SAR’s foreign exchange reserves was MOP228.7 billion (USD28.56 billion) at the end of October 2024. This represents a 0.8% decrease from the revised figure of MOP230.6 billion (USD28.81 billion) in September. At the end of October, these reserves were 11 times the currency in circulation and accounted for 88.9% of pataca M2 as of September 2024. Additionally, the trade-weighted effective exchange rate index for the pataca rose 1.55 points month-on-month but fell 1.78 points year-on-year to 103.9 in October 2024.