The money supply in Macau increased in February, with the M2 aggregate (the sum of currency in circulation, demand deposits, and quasi-monetary liabilities) growing by 0.5% month-on-month to reach 863.6 billion patacas (approximately 93 billion euros), driven by increases in currency in circulation and demand deposits, according to data released by the Monetary Authority of Macau.
The M1 aggregate (the sum of currency in circulation and demand deposits) grew by 7.4% compared to the previous month, reflecting increases of 4.4% in currency in circulation and 8.6% in demand deposits. Conversely, quasi-monetary liabilities recorded a slight decline of 0.2%.
The composition of M2 remained dominated by the Hong Kong dollar, accounting for 44.6%, followed by the Macau pataca at 32%, the U.S. dollar at 15.3%, and the renminbi at 6.4%.
Deposits from residents grew by 0.4% month-on-month, totaling 840.1 billion patacas. Deposits from non-residents increased by 1.2%, while deposits from the public sector rose by 3.8%.
Read also: Macau: casino revenues up 15% in March
Overall, banking sector deposits grew by 1.1% compared to the previous month, reaching 1,416.5 billion patacas. In terms of currency composition, the Hong Kong dollar remained dominant, accounting for 44.8% of the total.
Domestic loans to the private sector fell by 0.7%, settling at 489.1 billion patacas. In contrast, loans to the rest of the world increased by 4.2%.
Total credit volume grew by 1.9% month-on-month, reaching 104.68 billion patacas, reflecting primarily the strength of external financing.
The loan-to-deposit ratio rose to 73.9%, while the ratio for residents only fell to 45%. The non-performing loan ratio declined slightly to 4.7%.
Detailed data are available in the Monthly Bulletin of Monetary and Exchange Rate Statistics released by the Monetary Authority of Macao.
