A statement by the Macau Monetary Authority (AMCM) yesterday announced that the preliminary estimate of Macau’s foreign exchange reserves totalled 216.6 billion patacas, or US$26.97 billion, at the end of last month.
According to the statement, the reserves “increased by 1.1 percent from the revised value of 214.2 billion patacas (US$26.66 billion) for the previous month”.
The city’s foreign exchange reserves at the end of January showed “11 times the currency in circulation” or 89.0 percent of the pataca M2 at the end of last year, the statement underlined.
M2 is a measure of the money supply that includes cash, checking deposits, and easily-convertible near money.
The statement pointed out that the “trade-weighted effective exchange rate index” for the pataca dropped 0.02 points month-to-month but increased 1.88 points year-on-year to 103.8 in January 2022. The statement noted that this suggests that overall, “the exchange rate of the pataca dropped against the currencies of Macau’s major trading partners on a monthly basis but grew on an annual basis”.
This poster provided by the Macau Monetary Authority (AMCM) yesterday shows Macau’s forex reserves and nominal effective exchange rate index for the local patacas currency last month.
