The preliminary estimate of the Macau Special Administrative Region’s foreign exchange reserves reached to 125.9 billion patacas (15.76 billion U.S. dollars) at the end of June 2014, according to the figures released on Tuesday by the Monetary Authority of Macao.
The reserves for June increased by 2.6 percent over the revised value of 122.7 billion patacas (15.37 billion U.S. dollars) for the previous month.
Macao’s foreign exchange reserves at the end of June 2014 represented 13 times the currency in circulation at the end of May.
The trade-weighted effective exchange rate index for the pataca, a gauge of the domestic currency’s exchange rates against the currencies of Macau’s major trading partners dropped 0.31 points year-on-year to 97.45 in June 2014.
(macaunews)
