Macanese Pataca
Macao pataca | |||||||||||||||
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Chinese name | |||||||||||||||
Traditional Chinese | 澳門圓 | ||||||||||||||
Simplified Chinese | 澳门圆 | ||||||||||||||
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Portuguese name | |||||||||||||||
Portuguese | Patacas de Macau |
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The pataca (Chinese: 澳門圓; ISO 4217 code: MOP) is the currency of Macau. It is subdivided into 100 avos (Cantonese: 仙; sin), with 10 avos called ho (毫) in Cantonese. The abbreviation MOP$ is commonly used.
Macau has a currency board system under which the legal tender, Macau pataca (or Macao pataca), is 100 percent backed by foreign exchange reserves, in this case currently the Hong Kong dollar. Moreover, the currency board, Monetary Authority of Macao (AMCM), has a statutory obligation to issue and redeem pataca on demand against the Hong Kong dollar at a fixed exchange rate and without limit.
Read more about Macanese Pataca: History, Coins, Banknotes, Historical Exchange Rate