The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP213.3 billion (USD26.43 billion) at the end of January 2023. The reserves increased by 2.3% from the revised value of MOP208.6 billion (USD25.97 billion) for the previous month. Macao SAR’s foreign exchange reserves at end-January 2023 represented 10 times the currency in circulation or 77.0% of pataca M2 at end-December 2022.
The trade-weighted effective exchange rate index for the pataca fell 2.28 points month-to-month but rose 4.57 points year-on-year to 108.4 in January2023, implying that overall speaking, 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.