The Monetary Authority of Macao announced today (16 August) that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP229.0 billion (USD28.46 billion) at the end of July 2024. The reserves decreased by 1.4% from the revised value of MOP232.3 billion (USD28.88 billion) for the previous month. Macao SAR’s foreign exchange reserves at end-July 2024 represented 11 times the currency in circulation or 91.7% of pataca M2 at end-June 2024.
The trade-weighted effective exchange rate index for the pataca dropped 0.17 points month-on-month but rose 2.43 points year-on-year to 105.3 in July 2024, 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.