Foreign exchange reserves and nominal effective exchange rate index for the pataca – January 2024
The Monetary Authority of Macao announced today (16 February) that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP225.7 billion (USD28.03 billion) at the end of January 2024. The reserves increased by 0.9% from the revised value of MOP223.6 billion (USD27.77 billion) for the previous month. Macao SAR’s foreign exchange reserves at end-January 2024 represented 11 times the currency in circulation or 91.1% of pataca M2 at end-December 2023.
The trade-weighted effective exchange rate index for the pataca rose 0.08 points month-on-month and 1.99 points year-on-year to 103.4 in January 2024, implying that overall speaking, the exchange rate of the pataca grew against the currencies of Macao’s major trading partners.