Macao reserves rise

The preliminary estimate of the foreign exchange reserves in China’s Macao Special Administrative Region (SAR) amounted to 159.5 billion patacas ($19.73 billion) at the end of August this year, the Monetary Authority of Macao said on Thursday.

The reserves increased by 1.7 percent from the revised value of 156.9 billion patacas for the previous month. The SAR’s foreign exchange reserves at the end of August 2018 represented 10 times Macao’s currency in circulation at the end of July.

The trade-weighted effective exchange rate index for the pataca rose 0.87 point month-to-month in August.