Foreign exchange reserves rise 2% in December

The SAR’s foreign exchange reserves rose 2.0% month-on-month to MOP245.6 billion at the end of December 2025, according to the Monetary Authority of Macao. The reserves were equivalent to 11 times the currency in circulation, or 91.8% of M2 at end-November. Meanwhile, the trade-weighted effective exchange rate index of the pataca fell to 101.1 in December, down 0.81 points from November and 5.47 points year-on-year, indicating a broad weakening against major trading partner currencies.