Forex reserves expand in March

Macau’s foreign exchange reserves posted an increase of 0.3 per cent to MOP155.1 billion (US$19.38 billion) in March vis-à-vis MOP154.6 billion the previous month, the Monetary Authority of Macao revealed yesterday.
As at the end of last month, total foreign exchange reserves held by the MSAR represented 11 times the currency in circulation or 90.6 per cent of Pataca M2 as at the end of February, 2017.
Meanwhile, the month’s trade-weighted effective exchange rate index for the Pataca stood at 109, a growth of 0.02 points month-to-month or an increase of 3.08 points year-on-year.
This suggests the exchange rate of the Pataca advanced against the currencies of Macau’s major trading partners in overall terms.