Trade-weighted value of pataca dips in July

The pataca’s international value fell last month, making Macau’s exports marginally cheaper. The Monetary Authority of Macau says the trade-weighted exchange rate index of the pataca fell last month by 0.13 point to 97.32 points. The authority estimates that Macau’s foreign exchange reserves grew by 1.4 percent last month to MOP127.6 billion (US$15.94 billion). The sum is 13 times the value of all the patacas in circulation.