Economy

Macao's forex reserves reach $25b in March

(Xinhua)
Updated: 2011-04-15 16:26

MACAO - The preliminary estimate of the Macao SAR's foreign exchange reserves amounted to 204.1 billion patacas ($25.45 billion) at the end of March 2011, according to the figures released on Friday by the Monetary Authority of Macao.

Related readings: Macao's March gaming revenues exceed $2.5b  Macao's per-capita GDP reaches $49,745

The reserves for March rose by four percent over the previous month, and when compared with a year earlier, the reserves increased by 30.6 percent, the figures indicated.

Macao's foreign exchange reserves at the end of March 2011 represented 35 times the currency in circulation at the end of February.

The trade-weighted effective exchange rate index for the pataca, a gauge of the domestic currency's exchange rates against the currencies of Macao's major trading partners, fell by 0.49 points month-to-month and 2.8 points year-on-year to 87.72 in March 2011.