Macao’s financial reserves reach MOP 620 billion

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