Macao's forex reserves slightly fall in September

The preliminary estimate of Macao's foreign exchange reserves reached 132.8 billion patacas (16.62 billion U.S. dollars) at the end of September 2012, according to figures released on Monday by the Monetary Authority of Macao.

The reserves for September fell by 0.4 percent or 500 million patacas over the previous month, the figures indicated.

Macao's foreign exchange reserves at the end of September represented 19 times the currency in circulation or 154.7 percent of pataca M2 at the end of August 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, fell by 1.30 point month-on-month, but rose by 2.15 points year-on-year to 97.55 in September.