The preliminary estimate of Macau’s foreign exchange reserves amounted to 189.2 billion patacas at the end of August 2020, the special administrative region’s monetary authority said. The latest statistics from the Monetary Authority of Macao indicated that the reserves decreased by 3 percent from the revised value of 195.1 billion patacas in July. Meanwhile, the trade-weighted effective exchange rate index for the pataca dropped by 1.51 points month-to-month and 2.04 points year-on-year to 105.7 in August 2020, implying that overall speaking, the exchange rate of the pataca declined against the currencies of Macau’s major trading partners. Macau’s foreign exchange reserves at the end of August 2020 represented 10 times the currency in circulation.
Macau to hold three exhibitions to help businesses
Macau is to hold three exhibitions in late October to help exhibitors and participants expand their online businesses and explore opportunities, the Macao Trade and Investment Promotion Institute said. The 25th Macao International Trade and Investment Fair (25th MIF), Macao Franchise Expo 2020 (2020MFE), and 2020 Portuguese-Speaking Countries Products and Services Exhibition (Macao) (2020PLPEX) will be held concurrently at The Venetian Macao integrated resort from October 22 to 24. The three exhibitions aim to provide professional networking and matching services to participants. Merchants can register on the online business matching service platform to arrange meetings in advance. For the first time, the online matching service will be provided for merchants who are not able to attend the exhibitions in person.