Patacas

Patacas, or the Macanese pataca, is the official currency of the Macao Special Administrative Region of China. Its ISO code is MOP and it is commonly used in everyday transactions throughout Macau, including casinos, hotels, shops, and services that cater to residents and visitors. The currency is frequently represented with the label MOP$ or simply patacas, and it is subdivided into 100 avos.

The pataca has a long colonial-era history in Macau. It was first issued in the late 19th century by Banco Nacional Ultramarino (BNU) and has remained the region’s monetary unit since then. Today, the Monetary Authority of Macau (Autoridade Monetária de Macau) regulates monetary policy, while banknotes are issued by the BNU on behalf of the Macau government. The pataca is closely tied to the region’s financial system and local banking network.

Monetary policy and exchange rate regime for the pataca are anchored to the Hong Kong dollar through a currency board arrangement. This linkage helps maintain stability in the pataca’s value relative to the Hong Kong dollar, and by extension provides a generally stable exchange framework with the U.S. dollar. In practice, the pataca trades at roughly eight patacas to one U.S. dollar in typical market conditions, with small fluctuations due to market demand and currency flows.

In everyday use, the pataca is the main cash currency in Macau, accepted for most transactions alongside other currencies in banks and some hotels or casinos. For travelers, exchanging foreign currency to MOP is commonly available at banks, exchange counters, and major hotels. The pataca remains a distinctive symbol of Macau’s autonomy and economic identity.