The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR's foreign exchange reserves amounted to MOP225.7 billion (USD28.16 billion) at the end of June 2011. The reserves rose by 4.6% from the revised value of MOP215.8 billion (USD26.94 billion) for the previous month. When compared with a year earlier, the reserves increased by MOP62.0 billion or 37.9%. Macao SAR's foreign exchange reserves at end-June 2011 represented 40 times the currency in circulation or 315.3% of Pataca M2 at end-May 2011. The trade-weighted effective exchange rate index for the pataca, a gauge of the domestic currency's exchange rates against the currencies of Macao's major trading partners, fell by 0.21 points month-to-month and 5.47 points year-on-year to 86.82 in June 2011.
