Foreign exchange reserves reach MOP157.9 bln in July

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The MSAR’s foreign exchange reserves amounted to MOP157.9 billion (US$19.62 billion) at the end of July, down 0.8 per cent month-on-month, according to the preliminary estimation made by the Monetary Authority of Macao (AMCM).
The foreign exchange reserves in July represented 11 times the currency in circulation, or 89.5 per cent of pataca M2 as at the end of May.
The pataca trade-weighted effective exchange rate index, according to AMCM data, dropped 0.84 points when compared to June, also going down by 0.73 points year-on-year, to 105.7 in July.
This suggests that both monthly and yearly, 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.