The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP122.7 billion (USD15.37 billion) at the end of May 2014. The reserves rebounded by 2.0% from the revised value of MOP120.3 billion (USD15.07 billion) for the previous month. Macao SAR’s foreign exchange reserves at end-May 2014 represented 13 times the currency in circulation or 108.6% of Pataca M2 at end-April 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, increased 0.14 points month-to-month but dropped 1.14 points year-on-year to 97.25 in May 2014.