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Some of Macao reserve invested in Portuguese panda bonds

The managers of the Macao fiscal reserve have acquired bonds denominated in renminbi, known as panda bonds, which Portugal issued last year, Lusa reports, citing the Monetary Authority of Macau.

The Portuguese news agency quotes the authority as saying the managers have also invested in securities issued by some other lusophone countries, without saying which countries or how much has been invested in their securities.

The Macao fiscal reserve amounted to 597.85 billion patacas (about US$74.89 billion) on June 30, or 3.2 percent more than on January 31, Lusa says.

In May last year Lusa reported that the Portuguese government had sold 2 billion yuan (about US$288.1 million) worth of three-year panda bonds, becoming the first country in the euro zone to issue such debt.