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Macao News
Macao’s financial reserves reach MOP 620 billion
Macao News > Economy > Macao’s financial reserves reach MOP 620 billion

Macao’s financial reserves reach MOP 620 billion Link copied

The financial reserves of the Macao Special Administrative Region (MSAR) stood at MOP 620.1 billion (US$77.7 billion) at the end of November last year.

financial reserves Macao
21 January 20212 February 2021 BY STAFF REPORTER
BY STAFF REPORTER21 January 20212 February 2021

The financial reserves of the Macao Special Administrative Region (MSAR) stood at MOP 620.1 billion (US$77.7 billion) at the end of November last year, the Monetary Authority of Macao (AMCM) announced on Wednesday.

Macao’s quasi-central bank announced the figure in a synopsis of the financial reserves published in the Official Gazette (BO).

Month-on-month, the reserves grew by MOP 8.8 billion.

According to an AMCM statement last week, the MSAR’s foreign exchange reserves amounted to MOP 200.8 billion at the end of last month, a 3.9 per cent increase from the end of November.

Macao’s pataca currency is pegged to the Hong Kong dollar (MOP 1 = HK$0.97). Through its Hong Kong dollar peg the pataca is indirectly linked to the US dollar (US$1 = MOP 7.98).

While the pataca is Macao’s sole legal tender, the Hong Kong dollars is its customary tender in the property sector.

(The Macau Post Daily/Macao News)
Photo by Macau Photo Agency

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