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

The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP155.2 billion (USD19.43 billion) at the end of July 2016. The reserves increased by 2.6% from the revised value of MOP151.2 billion (USD18.92 billion) for the previous month. Macao SAR’s foreign exchange reserves at end-July 2016 represented 12 times the currency in circulation or 106.2% of Pataca M2 at end-June 2016. The trade-weighted effective exchange rate index for the pataca rose 0.87 points month-to-month and 1.64 points year-on-year to 106.39 in July 2016, implying that overall speaking, the pataca appreciated against the currencies of Macao’s major trading partners.