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Forex reserves rise to US$23.7 billion in June

Macao’s foreign exchange reserves amounted to MOP 189.6 billion (US$23.75 billion) at the end of June, the Monetary Authority of Macao said in a statement on Wednesday.

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UPDATED: 22 Dec 2023, 5:44 am

Macao’s foreign exchange reserves amounted to MOP 189.6 billion (US$23.75 billion) at the end of June, the Monetary Authority of Macao (AMCM) said in a statement on Wednesday.

According to the statement, the forex reserves rose 3.5 per cent month-on-month.

The foreign exchange reserves at the end of June represented 10 times the currency in circulation or 85.4 per cent of pataca M2 at the end of May.

The trade-weighted effective exchange rate index for the pataca dropped 1.25 points month-on-month, but rose by 1.51 points year-on-year to 108.2 in June, implying that the exchange rate of Macao’s legal tender declined against the currencies of its major trading partners on a monthly basis but increased on an annual basis.

(Xinhua News Agency/The Macau Post Daily/Macau News)
PHOTO © Government Information Bureau (GCS)

UPDATED: 22 Dec 2023, 5:44 am

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