The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP195.1 billion (USD24.43 billion) at the end of July 2020. The reserves increased by 2.9% from the revised value of MOP189.6 billion (USD23.75 billion) for the previous month. Macao SAR’s foreign exchange reserves at end-July 2020 represented 11 times the currency in circulation or 84.2% of pataca M2 at end-June 2020.

The trade-weighted effective exchange rate index for the pataca dropped 1.05 points month-to-month but rose 0.31 points year-on-year to 107.2 in July 2020, implying that overall speaking, the exchange rate of the pataca declined against the currencies of Macao’s major trading partners on a monthly basis but increased on an annual basis.