Macao's forex reserves hit $29.75b in August

Updated: 2011-09-15 11:42


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MACAO-- The preliminary estimate of Macao SAR's foreign exchange reserves amounted to 238.9 billion patacas ($29.75 billion) at the end of August, according to figures released on Thursday by the Monetary Authority of Macao.

The reserves for August rose by 3.1 percent over the previous month, and, when compared with a year earlier, the reserves increased by 44.6 percent, the figures indicated.

Macao's foreign exchange reserves at the end of August 2011 represented 42 times the currency in circulation at the end of July.

The trade-weighted effective exchange rate index for the pataca, a gauge of the domestic currency's exchange rates against the currencies of Macao's major trading partners, fell by 0.39 points month-to-month and 4.5 points year-on-year to 86.34 in August 2011.