Foreign exchange reserves up

The Monetary Authority of Macau (AMCM) yesterday released its preliminary estimate of the SAR’s foreign exchange reserves, which amounted to MOP155.6 billion (USD19.39 billion) at the end of January 2016.
The reserves were up 3.2 percent from the previous month’s revised value of MOP150.8 billion (USD18.89 billion).
The region’s foreign exchange reserves at the end of January 2016 represented 13 times the currency in circulation at the end of 2015.
According to AMCM, the  trade-
weighted effective exchange rate index for the pataca rose 0.36 points month-to-month and 4.68 points year-on-year to 107.64 in January 2016. This increase implies that overall, the pataca appreciated against the currencies of Macau’s major trading partners.