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Macao’s forex reserves reached MOP 216.6 billion last month

AMCM says pataca exchange rate dropped against currencies of Macao’s major trading partners on a monthly basis but grew on an annual basis.

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AMCM says pataca exchange rate dropped against currencies of Macao’s major trading partners on a monthly basis but grew on an annual basis.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

Macao’s foreign exchange reserves stood at MOP 216.6 billion, or US$26.97 billion, at the end of last month.

According to the Macao Monetary Authority (AMCM), the reserves “increased by 1.1 per cent from the revised value of MOP 214.2 billion (US$26.66 billion) for the previous month”.

The city’s foreign exchange reserves at the end of January showed “11 times the currency in circulation” or 89 per cent of the pataca M2 at the end of last year, the AMCM underlined.

M2 is a measure of the money supply that includes cash, chequing deposits and easily-convertible near money.

The authority pointed out that the “trade-weighted effective exchange rate index” for the pataca dropped 0.02 points month-to-month but increased 1.88 points year-on-year to 103.8 in January 2022. 

The AMCM noted that this suggests that overall, “the exchange rate of the pataca dropped against the currencies of Macao’s major trading partners on a monthly basis but grew on an annual basis”. 

 

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