Foreign exchange reserves and nominal effective exchange rate index for the pataca – October 2016

The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP154.4 billion (USD19.33 billion) at the end of October 2016. The reserves decreased by 0.3% from the revised value of MOP154.9 billion (USD19.39 billion) for the previous month. Macao SAR’s foreign exchange reserves at end-October 2016 represented 12 times the currency in circulation or 98.3% of Pataca M2 at end-September 2016. The trade-weighted effective exchange rate index for the pataca rose 1.15 points month-to-month and 1.52 points year-on-year to 106.91 in October 2016, implying that overall speaking, the exchange rate of the pataca advanced against the currencies of Macao’s major trading partners.