Home Forex Exchange Forex reserves of Macao decline to USD23.71 billion in August – MENAFN.COM

Forex reserves of Macao decline to USD23.71 billion in August – MENAFN.COM

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(MENAFN)

The monetary of Macao said on Monday that the foreign exchange reserves of the country came in at 189.2 billion patacas (USD23.71 billion) by the end of August of 2020.

The most recent statistics released by the Monetary Authority of Macao said that the reserves declined 3.0 percent compared to a revised value amounting to 195.1 billion patacas (USD24.43 billion) in July.

The foreign exchange reserves of the country at the end of August 2020 were 10 times the currency in circulation or what is equal to 81.7 percent of pataca M2 at the end of July of the same year 2020.

The trade-weighted effective exchange rate index for the pataca reported a decline of 1.51 points since a month ago and dropped 2.04 points since a year ago to set at 105.7 in August of 2020, showing that the exchange rate of the pataca dropped versus the currencies of Macao’s big trading partners.

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