The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP187.6 billion (USD23.50 billion) at the end of October 2020. The reserves increased by 1.5% from the revised value of MOP184.8 billion (USD23.15 billion) for the previous month. Macao SAR’s foreign exchange reserves at end-October 2020 represented 10 times the currency in circulation or 80.8% of pataca M2 at end-September 2020.

The trade-weighted effective exchange rate index for the pataca dropped 0.60 points month-to-month and 3.41 points year-on-year to 104.6 in October 2020, implying that overall speaking, the exchange rate of the pataca declined against the currencies of Macao’s major trading partners.