MACAO -- The preliminary estimate of the Macao SAR's foreign exchange reserves amounted to 128.8 billion patacas ($16.10 billion) at the end of March 2012, according to the figures released on Monday by the Monetary Authority of Macao.

The reserves for March rose by 1.6 percent over the revised value of 126.7 billion patacas for the previous month, the figures indicated.

Macao's foreign exchange reserves at the end of March 2012 represented 20 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, rose by 0.16 points month-to-month and 0.51 points year-on-year to 88.24 in March 2012.