Macao Forex Reserves Up 3.9 Pct To 15.15 Bln USD By Year End

Sumaira FH Published January 15, 2021 | 06:30 PM

MACAO, (UrduPoint / Pakistan Point News - 15th Jan, 2021 ) :The preliminary estimate of Macao's foreign exchange reserves amounted to 200.8 billion patacas (about 25.15 billion U.S. Dollars) at the end of December 2020, the special administrative region's (SAR) monetary watchdog said here on Friday.

According to the latest report released by the Monetary Authority of Macao, the foreign exchange reserves increased by 3.9 percent from the revised value of 193.2 billion patacas (24.20 billion dollars) for the previous month.

Macao SAR's foreign exchange reserves at the end of December 2020 represented 11 times the Currency in circulation, or 85.3 percent of pataca M2 at the end of November 2020.

The trade-weighted effective exchange rate index for the pataca dropped 1.28 points month on month and 5.35 points year on year to 102.4 in December 2020, implying that overall speaking, the exchange rate of the pataca declined against the currencies of Macao's major trading partners.