Macao’s foreign exchange reserves amounted to MOP 187.60 billion (US$23.50 billion) at the end of October 2020, according to preliminary data released by the Monetary Authority of Macao (AMCM) on Monday.
According to an AMCM statement, the reserves increased by 1.5 per cent from the revised amount of MOP 184.80 billion in the previous month.
Macao’s foreign exchange reserves at the end of last month represented 10 times the currency in circulation.
The trade-weighted effective exchange rate index for the pataca (MOP) dropped by 0.60 points month-to-month and 3.41 points year-on-year to 104.6 in October, implying that the exchange rate of the pataca declined against the currencies of Macao’s major trading partners.
While the pataca is Macao’s sole legal tender, the Hong Kong dollar is the city’s customary tender.
(The Macau Post Daily/Macao News)
Photo by Macau Photo Agency