The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR’s foreign exchange reserves amounted to MOP128.8 billion (USD16.12 billion) at the end of October 2014. The reserves decreased by 0.3% from the revised value of MOP129.2 billion (USD16.15 billion) for the previous month. Macao SAR’s foreign exchange reserves at end-October 2014 represented 13 times the currency in circulation or 104.9% of Pataca M2 at end-September 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 0.58 points month-to-month and 2.96 points year-on-year to 99.47 in October 2014.