Foreign exchange reserves and nominal effective exchange rate index for the pataca – October 2023
The Monetary Authority of Macao announced today (16 November) that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP221.1 billion (USD27.45 billion) at the end of October 2023. The reserves increased by 0.4% from the revised value of MOP220.1 billion (USD27.29 billion) for the previous month. Macao SAR’s foreign exchange reserves at end-October 2023 represented 11 times the currency in circulation or 89.3% of pataca M2 at end-September 2023.
The trade-weighted effective exchange rate index for the pataca rose 0.69 points month-on-month but fell 2.22 points year-on-year to 105.7 in October 2023, implying that overall speaking, the exchange rate of the pataca grew against the currencies of Macao’s major trading partners on a monthly basis but dropped on an annual basis.