- The Lobby
- Extra Times
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.
Responsible Right of Expression — In the interest of freedom of expression, coupled with a true sense of responsibility to encourage community dialogue, the Macau Daily Times offers its readers the opportunity to express their opinions on new-related matters through this website. All opinions are welcome. However, we reserve the right to remove comments that are deemed to be obscene, or are merely insults written under the cloak of anonymity. MDT
- SUNDAY AT THE COTAI ARENA: The Stones land today in Macau for historic concert
- Forbes explores the city beyond the baccarat tables
- EDUCATION: Zhuhai school caters to study-abroad fever
- Taipa Central Park swimming pool to be completed this year
- IACM to kick off Green Week 2014
- Industry wants tougher penalties for hiring illegal drivers
- ANM asks gov’t to clarify its plan on Tap Seac ‘Glass House’
- BRIEFS: Cocaine smuggled inside six paintings
- Local flights to Vietnam to be resumed
- 25th Macau Arts Festival promises over 200 events in 16 locations
- MUST Career Fair: Employers say attitude is “most important factor” to be successful
- Lao Iong to lead Urban Planning Committee
- Delegates in Beijing request more land resources for Macau
- Money laundering prevalent in both SARs
- BRIEFS: Bus driver jailed for drunk-driving