Macau’s foreign exchange reserves amounted to 183.3 billion patacas (US$22.95 billion) at the end of last month, the Macau Monetary Authority (AMCM) said in a statement yesterday.
The reserves increased 2.4 percent from the revised amount of 179.0 billion patacas at the end of April.
The forex reserves at the end of May represented 10 times the currency in circulation, or 82.4 percent of pataca M2 at the end of April.
According to Investopedia, M2 is a money supply measure that includes cash, checking deposits, and easily convertible “near money”, i.e. assets that can readily be converted into cash, such as government bonds.
The trade-weighted effective exchange rate index for the pataca rose 0.06 points month-to-month and 2.64 points year-on-year to 109.5 last month, implying that the pataca exchange rate grew against the currencies of Macau’s major trading partners.
– Xinhua, MPD
