The Monetary Authority of Macao announced today that the preliminary estimate of Macao SAR's foreign exchange reserves amounted to MOP127.6 billion (USD15.99 billion) at the end of July 2014. The reserves increased by 1.4% from the revised value of MOP125.9 billion (USD15.76 billion) for the previous month. Macao SAR's foreign exchange reserves at end-July 2014 represented 13 times the currency in circulation or 109.9% of Pataca M2 at end-June 2014. 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, dropped 0.13 points month-to-month and 0.97 points year-on-year to 97.32 in July 2014.
