The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP127.9 billion (USD16.02 billion) at the end of November 2014. The reserves decreased by 0.7% from the revised value of MOP128.8 billion (USD16.12 billion) for the previous month. Macao SAR’s foreign exchange reserves at end-November 2014 represented 12 times the currency in circulation or 102.8% of Pataca M2 at end-October 2014.

The trade-weighted effective exchange rate index for the pataca, a gauge of the domestic currency’s exchange rates against the currencies of Macao’s major trading partners, rose 1.17 points month-to-month and 3.71 points year-on-year to 100.64 in November 2014.