The_monetary_system Economy_of_Macau

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bnu tower in macau.


macau adopts so-called currency board system under legal tender, pataca (mop), 100 percent backed foreign exchange reserves, hong kong dollar (hkd). moreover, currency board, monetary authority of macao (amcm), has statutory obligation issue , redeem pataca on demand against hong kong dollar @ fixed exchange rate , without limit. pataca pegged hong kong dollar @ rate of 1.03 mop per hkd, maintained amcm.


each pataca divides 100 avos. coins issued in 10, 20, , 50 avos , 1, 2, 5, , 10 patacas (2 , 10 patacas coins used in territory); notes in 5, 10, 20, 50, 100, 500, , 1000 pataca denominations. hong kong dollar freely used , accounts more half of total deposits in macau s banks. in addition, chinese yuan accepted. 2 banks issue currency: banco nacional ultramarino , bank of china (starting october 1995). historical exchange rates between pataca , dollar (usd) given below.









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