Foreign exchange reserves and nominal effective exchange rate index for the pataca – August 2024
The Monetary Authority of Macao announced today (13 September) that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP228.9 billion (USD28.50 billion) at the end of August 2024, which remained virtually unchanged from the previous month. Macao SAR’s foreign exchange reserves at end-August 2024 represented 11 times the currency in circulation or 90.1% of pataca M2 at end-July 2024.
The trade-weighted effective exchange rate index for the pataca dropped 2.00 points month-on-month and 0.49 points year-on-year to 103.3 in August 2024, implying that overall speaking, the exchange rate of the pataca declined against the currencies of Macao’s major trading partners.