Macao's forex reserves increase to $23.75B at end of June
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E-mail Xinhua, July 15, 2020
The preliminary estimate of Macao's foreign exchange reserves amounted to 189.6 billion patacas (about 23.75 billion U.S. dollars) at the end of June, the special administrative region's monetary watchdog said here Wednesday.
The latest statistics from the Monetary Authority of Macao showed that the reserves increased by 3.5 percent from the revised value of 183.3 billion patacas (about 22.95 billion U.S. dollars) for the previous month.
The foreign exchange reserves at the end of June represented 10 times the currency in circulation or 85.4 percent of pataca M2 at the end of May.
The trade-weighted effective exchange rate index for the pataca dropped by 1.25 points month-to-month, but rose by 1.51 points year-on-year to 108.2 in June, implying that the exchange rate of the pataca declined against the currencies of Macao's major trading partners on a monthly basis but increased on an annual basis.
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