Macao forex down by 1.4 pct to 21.20 bln USD by November

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MACAO, Dec. 14 (Xinhua) — The preliminary estimate of Macao’s foreign exchange reserves amounted to 170.9 billion patacas (about 21.20 billion U.S. dollars) at the end of November 2019, the special administrative region (SAR)’s monetary watchdog said here on Saturday.

According to the latest report released by the Monetary Authority of Macao, the foreign exchange reserves decreased by 1.4 percent from the revised value of 173.3 billion patacas (21.47 billion dollars) for the previous month.

Macao SAR’s foreign exchange reserves at the end of November 2019 represented 10 times the currency in circulation or 82.3 percent of pataca M2 at the end of October 2019.

The trade-weighted effective exchange rate index for the pataca dropped 0.26 points month-to-month but rose 0.74 points year-on-year to 107.7 in November 2019, implying that the exchange rate of the pataca declined against the currencies of Macao’s major trading partners on a monthly basis but increased on an annual basis.

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