Foreign exchange reserves and nominal effective exchange rate index for the pataca – August 2023
The Monetary Authority of Macao announced today (14 September) that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP220.6 billion (USD27.30 billion) at the end of August 2023. The reserves increased by 1.4% from the revised value of MOP217.4 billion (USD27.07 billion) for the previous month. Macao SAR’s foreign exchange reserves at end-August 2023 represented 11 times the currency in circulation or 88.0% of pataca M2 at end-July 2023.
The trade-weighted effective exchange rate index for the pataca rose 0.92 points month-on-month and 0.03 points year-on-year to 103.8 in August 2023, implying that overall speaking, the exchange rate of the pataca grew against the currencies of Macao’s major trading partners.