Macao's forex reserves reach over 16 bln USD in August

The preliminary estimate of China's Macao Special Administrative Region's foreign exchange reserves reached to 130.2 billion patacas (16.31 billion U.S. dollars) at the end of August 2014, according to the figures released on Monday by the Monetary Authority of Macao.

The reserves for August increased by 2.0 percent over the revised value of 127.6 billion patacas (15.99 billion U.S. dollars) for the previous month.

Macao's foreign exchange reserves at the end of August 2014 represented 13 times the currency in circulation at the end of July this year.

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 rose 0.39 points year- on-year to 97.71 in August this year.