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Foreign reserves at a record high
MSAR’s foreign currency reserves rose by 1.2 percent to reach MOP 165.7 billion at the end of last month, a new high record. Compared to a year ago, reserves have increased by 17.7 percent and are on an upward trend since October 2009, according to the latest statistics of the Monetary Authority of Macau.
Foreign reserves could now cover almost three times (271 percent) the amount of Patacas in circulation, which is also a new record. Furthermore, reserves represented 33 times the foreign currency in circulation.
Meanwhile the effective exchange rate index, which measures the current Pataca exchange rates against Macau’s major trading partners, is down by 1.04 points from June. Yet the rate increased by 0.81 points year-on-year.
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