MACAO, Nov. 15 (Xinhua) -- The preliminary estimate of Macao's foreign exchange reserves amounted to 173.3 billion patacas (about 21.47 billion U.S. dollars) at the end of October 2019, the special administrative region's monetary watchdog said here on Friday.
According to the latest report released by the Monetary Authority of Macao, the foreign exchange reserves increased by 1.3 percent from the revised value of 171.0 billion patacas (21.18 billion dollars) for the previous month.
Macao's foreign exchange reserves at the end of October represented 11 times the currency in circulation or 83.4 percent of pataca M2 at the end of September, the report added.
The trade-weighted effective exchange rate index for the pataca dropped 0.33 points month-to-month but rose 1.43 points year-on-year to 108.0 in October, implying that overall speaking, 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.
