Macao's forex reserves edge up to 24.2 bln USD at end of November
Source: Xinhua | 2020-12-16
The preliminary estimate of Macao's foreign exchange reserves amounted to 193.2 billion patacas (about 24.2 billion U.S. dollars) at the end of November 2020, the special administrative region (SAR)'s monetary watchdog said here on Tuesday.
The latest statistics from the Monetary Authority of Macao indicated that the reserves increased by 3.0 percent from the revised value of 187.6 billion patacas (about 23.5 billion U.S. dollars) for the previous month.
Macao's foreign exchange reserves at the end of November 2020 represented 10 times the currency in circulation or 82.6 percent of pataca M2 at the end of October 2020.
The trade-weighted effective exchange rate index for the pataca dropped 0.93 points month-on-month and 4.08 points year-on-year to 103.6 in November 2020, implying that the exchange rate of the pataca declined against the currencies of Macao's major trading partners
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