City’s forex reserves increased 4.3 pct m-o-m in June

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The MSAR’s foreign exchange reserves amounted to MOP159.2 billion (US$19.80 billion) at the end of June, up 4.3 per cent month-on-month, according to the preliminary estimation made by the Monetary Authority of Macao (AMCM).
The foreign exchange reserves in June represented 11 times the currency in circulation, or 91.8 per cent of pataca M2 at the end of May.
The pataca trade-weighted effective exchange rate index, according to AMCM data, dropped 1.17 points when compared to May, but the rate increased by 0.99 points year-on-year, to 106.5 in June.
This suggests the exchange rate of the pataca weakened against the currencies of Macau’s major trading partners on a monthly basis, but grew on an annual basis.