The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP189.2 billion (USD23.71 billion) at the end of August 2020. The reserves decreased by 3.0% from the revised value of MOP195.1 billion (USD24.43 billion) for the previous month. Macao SAR’s foreign exchange reserves at end-August 2020 represented 10 times the currency in circulation or 81.7% of pataca M2 at end-July 2020.

The trade-weighted effective exchange rate index for the pataca dropped 1.51 points month-to-month and 2.04 points year-on-year to 105.7 in August 2020, implying that overall speaking, the exchange rate of the pataca declined against the currencies of Macao’s major trading partners.