pataca

Pataca, or Macanese pataca, is the official currency of the Macau Special Administrative Region of China. Its ISO code is MOP and its common symbol is MOP$, with the unit subdivided into 100 avos.

The pataca is issued within a currency framework overseen by the Monetary Authority of Macao. Banknotes are issued by Banco Nacional Ultramarino and Bank of China (Macau) under license, while coins circulate under the authority’s regulation. The currency is closely tied to the Hong Kong dollar through a currency board arrangement, effectively anchoring its value to the US dollar via the HKD. In practice, the exchange rate is commonly cited as about 1 US dollar equal to roughly 8 patacas.

Macau adopted the pataca during the Portuguese era in the early 20th century and has maintained it since the handover to China in 1999. The arrangement allows Macau to manage monetary stability while still using separate notes and coins from neighboring regions. The pataca is the primary medium of exchange for everyday transactions in Macau, including commerce, tourism, and services. The Hong Kong dollar is also widely accepted in many establishments, particularly in casinos and border areas, reflecting Macau’s economic integration with the Pearl River Delta region.

In summary, the pataca is the distinct currency of Macau, issued under a currency board framework, pegged to the Hong Kong dollar, and serves as the main unit for everyday financial activity in the region.