Foreign exchange reserves and nominal effective exchange rate index for the pataca – May 2023
The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP217.8 billion (USD26.98 billion) at the end of May 2023. The reserves increased by 2.0% from the revised value of MOP213.4 billion (USD26.40 billion) for the previous month. Macao SAR’s foreign exchange reserves at end-May 2023 represented 10 times the currency in circulation or 86.4% of pataca M2 at end-April 2023.
The trade-weighted effective exchange rate index for the pataca rose 1.05 points month-on-month and 0.58 points year-on-year to 102.1 in May 2023, implying that overall speaking, the exchange rate of the pataca grew against the currencies of Macao’s major trading partners.