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Macanese pataca

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In this page talks about ( Macanese pataca ) It was sent to us on 16/06/2021 and was presented on 16/06/2021 and the last update on this page on 16/06/2021

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The Macau pataca or Macanese pataca ( ; ; sign: MOP$; code: MOP) is the currency of Macau. It is subdivided into 100 avos ( ; sin), with 10 avos called ho ( ) in Cantonese. The abbreviation MOP$ is commonly used.
Macau has a currency board system under which the legal tender, Macau pataca, is 100 percent backed by foreign exchange reserves, in this case currently the Hong Kong dollar. Moreover, the currency board, Monetary Authority of Macau (AMCM), has a statutory obligation to issue and redeem Macau pataca on demand against the Hong Kong dollar at a fixed exchange rate of HK$1 = MOP$1.03, and without limit.

History

The pataca was introduced in Portuguese Macau and Portuguese Timor in the year 1894, but only as a unit of account. The unit initially corresponded to the Mexican Peso, and it replaced the Portuguese real at a rate of 1 pataca = 450 réis. The name pataca derives from the fact that the Portuguese always referred to the Mexican Peso as the pataca mexicana.
At the end of the nineteenth century, there was no single currency in use in Macau, but the predominant circulating coins were the silver Mexican dollars, the British silver trade dollars of Hong Kong and the Straits Settlements, as well as the silver dollars and fractional coinage of the neighbouring province of Canton. In 1901, it was decided to have a uniquely Macau currency, and for that purpose, the Banco Nacional Ultramarino was granted exclusive rights to issue legal tender banknotes that were to be denominated in patacas. On January 27, 1906, pataca notes in denominations of 1, 5, 50 and 100 were introduced and all foreign coinage was outlawed, the idea being to make the pataca paper notes the sole legal tender currency in Macau. However, the Chinese, being so accustomed to using silver for barter, were suspicious of this new paper money, and as such, the paper pataca always circulated at a discount in relation to the silver dollar coins. On the contrary, a similar action at exactly the same time in the Straits Settlements, and for the same purpose, had the different effect of putting the new Straits dollar into the gold exchange standard. Hence both the Macau pataca and the Straits dollar were launched at a sterling value of 2 shillings and 4 pence, but where the Straits dollar remained at that value until the 1960s, the Macau pataca fluctuated with the value of silver, just like the Hong Kong unit.
In 1935, when Hong Kong and China abandoned the silver standard, the Hong Kong unit was pegged to sterling at a rate of 1 shilling and 3 pence, while the Macau pataca was pegged to the Portuguese escudo at a rate of 5.5 escudos. This meant that the Macau pataca was worth only 1 shilling sterling and was therefore at a discount of 3 pence sterling in relation to the Hong Kong unit.
The first exclusively Macau coinage was not introduced until the year 1952, which happened to be the year after the last pataca fractional coins were minted for East Timor. In that year in Macau, denominations below 10 patacas were replaced by coins.
{
MOP$10 rowspan="2" 138 × 69 mm Brown rowspan="2"Sun Yat Sen Memorial House rowspan="7" A view of Macau in the 1990s, Ponte Governador Nobre de Carvalho 8 July 1991 rowspan="7" Chinese junk
-
MOP$10 Red, Violet 8 January 2001
8 June 2003
-
MOP$20 143 × 71.5 mm Violet Old BNU headquarters 1 September 1996
20 December 1999
8 June 2003
-
MOP$50 148 × 74 mm Yellow Lion dance 13 July 1992
20 December 1999
-
MOP$100 153 × 76.5 mm Blue Chinese junk 13 July 1992
20 December 1999
8 June 2003
-
MOP$500 158 × 79 mm Green, yellow and orange A-Ma Temple 3 September 1990
20 December 1999
8 June 2003
-
MOP$1000 163 × 81.5 mm Red Dragon 8 July 1991
20 December 1999
8 June 2003
{
MOP$10 rowspan="2" 138 × 69 mm Brown rowspan="2" Lighthouse at Guia Fortress rowspan="8"Bank of China, Macau branch 16 October 1995 rowspan="7" Lotus
-
MOP$10 Red and orange 8 January 2001
2 February 2002
8 December 2003
-
MOP$20 143 × 71.5 mm Violet A-Ma Temple 1 September 1996
20 December 1999
8 December 2003
-
MOP$50 148 × 74 mm Yellow-grey University of Macau 16 October 1995
1 November 1997
20 December 1999
-
MOP$100 153 × 76.5 mm Blue Outer Harbour Ferry Terminal, Macau rowspan="2" 16 October 1995
20 December 1999
2 February 2002
8 December 2003
-
MOP$500 158 × 79 mm Green Ponte de Amizade
-
MOP$1000 163 × 81.5 mm Orange Sai Van (Praia de Bom Porto) 16 October 1995
20 December 1999
8 December 2003
{ http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0080.htm
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0080.htm
MOP$10 138 × 69 mm Red Statue of Mazu rowspan="6" BNU building rowspan="2" 8 August 2005
8 August 2010
11 November 2013
6 November 2017rowspan="6" Lotus
-
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0081.htm
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0081.htm
MOP$20 143 × 71.5 mm Violet Macau International Airport
-
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0081A2.htm
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0081A2.htm
MOP$50 148 x 74 mm Brown Sai Van Bridge 8 August 2009
11 November 2013
6 November 2017
-
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0082.htm
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0082.htm
MOP$100 153 × 76.5 mm Blue Largo do Senado (Senate Square) rowspan="3" 8 August 2005
8 August 2010
11 November 2013
6 November 2017
-
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0083.htm
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0083.htm
MOP$500 158 × 79 mm Green Macau Tower
-
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0084.htm
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0084.htm
MOP$1000 163 × 81.5 mm Orange link-zhMacau Cultural Centre
{class="wikitable" http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0108.htm
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0108.htm
MOP$10 138 × 69 mm Red A-Ma Temple rowspan="7"Bank of China, Macau branch rowspan="7" 8 August 2008
1 July 2013
6 November 2017rowspan="7" Lotus
-
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0109.htm
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0109.htm
MOP$20 143 × 71.5 mm Violet Façade of the ruins of Saint Paul's Cathedral
-
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0110.htm
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0110.htm
MOP$50 148 × 74 mm Brown Dom Pedro V Theatre
-
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0111.htm
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0111.htm
MOP$100 153 × 76.5 mm Blue Guia Lighthouse and Monte fort
-
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0112.htm
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0112.htm
MOP$500 158 × 79 mm Green Casa do Mandarim (House of the Mandarin)
-
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0113.htm
http://banknote.ws/COLLECTION/countries/ASI/MAC/MAC0113.htm
MOP$1000 163 × 81.5 mm Orange Legislative Senate

Commemorative issues


In 2008, the Macau branch of the Bank of China issued four million 20 pataca banknotes in commemoration of the 29th Summer Olympic Games in Beijing.Macau to issue 20-pacata note celebrating Olympics, BanknoteNews.com, Retrieved 2011-09-01.
In 2012, the Banco Nacional Ultramarino and Banco da China issued ten million 10 pataca banknotes to commemorate the Year of the Dragon, and from 2012–2023, the Banco National Ultramarino and the Banco da China are each authorized to issue a maximum number of 20 million special notes with the face value of 10 patacas to mark each lunar new year.Year of the Snake note rush starts The Macau Business Daily. January 14, 2013. Retrieved on 2013-01-19. The Bank of China also issued a 100 pataca banknote to commemorate its centennial anniversary.http://banknotenews.com/files/5d293a4544b3cb7543318d94f7ebbe82-1669.php Macau commemorative notes reported, BanknoteNews.com. Retrieved 2011-09-01.http://banknotenews.com/files/4db630fff1278c6af2c946ebf178bc87-1928.php Macau new 10-pataca Year of Dragon commemorative notes confirmed BanknoteNews.com. Retrieved 2012-01-28.http://banknotenews.com/files/0e7660a4a655a2c8347f6935eaabe15d-2066.php Macau new 100-pataca centennial anniversary commemorative notes confirmed BanknoteNews.com. Retrieved 2012-04-26.
In commemoration of the 20th anniversary of the transfer of Macau to the People's Republic of China, the Banco Nacional Ultramarino and the Banco da China issued five million 20 patacas banknotes. The front side of the notes feature the 7-ton gilded bronze sculpture "Lotus Flower In Full Bloom", representing the prosperity of Macau. The back side of the notes feature the Hong Kong-Zhuhai-Macao Bridge.

Historical exchange rate

Despite the fact that the pataca is the official currency of Macau, most of the money in circulation in the Region is actually Hong Kong dollars. Patacas accounted for only 29.9% of Macau's money supply at the end of 1998.http://www.amcm.gov.mo/publication/quarterly/Jul2007/Definition%20of%20Money%20Supply_revised.pdf Money Supply and its relevance to Macau
The exchange rate is pegged and is approximately MOP$1.03 for HK$1.Currency in Circulation in Macao, Monetary Authority of Macau For United States dollars, to which the Hong Kong dollar is in turn loosely pegged, the exchange rate is around 8 patacas to 1 US dollar. Although it is possible to exchange patacas in Macau, it is either difficult or impossible to do so elsewhere. The few places in Hong Kong where patacas are available are concentrated on Cleverly Street in Central, a short distance from the Hong Kong – Macau Ferry Terminal, Hong KongHong Kong-Macau Ferry Terminal.
Although the pataca is the legal tender of Macau, the Hong Kong dollar is almost universally acceptable in the Region, and in some cases, is preferred to the Pataca.http://wizardofmacau.com/general/hongkongdollars.html Hong Kong Dollar in Macau Circulation of the pataca is mandated by a decree (Decreto-Lei n.º 16/95/M) prohibiting refusal by merchants, but some casinos flout this rule and refuse bets in patacas.http://www.marcasepatentes.pt/files/collections/pt_PT/1/2/14/CPI%201995.pdf Decreto-Lei n. 16/95/M The Hong Kong dollar and Chinese yuan are generally accepted throughout Macau from casinos to restaurants. Payments to government agencies can also be made in both Hong Kong dollars and patacas.
As Macau currently imposes no restrictions on the import or export of local or foreign currency, visitors can change their currency in hotels, banks and bureaux de change located all around the city including 24 hour currency exchange booths at Macau International Airport (Taipa Island) and at the Lisboa Hotel (Macau Peninsula) for customers if they want to change their currency into patacas outside working hours.
{class=wikitable
- align=center
+ MOP annual average middle exchange rate for major foreign currencies, from 2002 on
(1 foreign currency unit to MOP)
- align=center
Year
2002
2003
2004
2005
2006
2007
2008
2009
- align=center
Hong Kong dollar
1.03
1.03
1.03
1.03
1.03
1.03
1.03
1.03
- align=right
align=centerChinese yuan
0.9706
0.9691
0.9693
0.9778
1.0025
1.0560
1.1546
1.1688
- align=right
align=centerUnited States dollar
8.0334
8.0214
8.0226
8.0109
8.0006
8.0360
8.0206
7.9842
- align=right
align=centerBritish Pound
12.0766
13.1040
14.6911
14.5820
14.6993
16.0887
14.8965
12.5159
- align=right
align=centerTaiwan dollar
0.2328
0.2332
0.2401
0.2494
0.2462
0.2447
0.2548
0.2418
- align=right
align=centerEuro
7.5984
9.0696
9.9645
9.9721
10.0272
11.0049
11.8092
11.1309
- align=right
align=centerAustralian dollar
4.3703
5.2271
5.9021
6.1064
6.0169
6.7351
6.8552
6.3269
- align=right
align=centerKorean won
0.0065
0.0067
0.0070
0.0078
0.0084
0.0087
0.0074
0.0063
- align=right
align=centerJapanese yen
0.0643
0.0692
0.0742
0.0729
0.0689
0.0683
0.0776
0.0854
- align=right
align=centerMalaysian ringgit
2.1141
2.1109
2.1112
2.1155
2.1797
2.3374
2.4124
2.2669
- align=right
align=centerNew Zealand dollar
3.7306
4.6671
5.3214
5.6436
5.1889
5.9128
5.7341
5.0721
- align=right
align=centerSingapore dollar
4.4893
4.6034
4.7452
4.8137
5.0294
5.3325
5.6788
5.4955
- align=right
align=centerSwiss franc
5.1812
5.9632
6.4572
6.4424
6.3801
6.6998
7.4326
7.3721
{ class=wikitable
+ MOP annual average middle exchange rate for major foreign currencies, 1990–2002
(1 foreign currency unit to MOP)
- align=center
Year
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
- align=center
Hong Kong dollar
1.03
1.03
1.03
1.03
1.03
1.03
1.03
1.03
1.03
1.03
1.03
1.03
- align=right
align=center Portuguese escudo
0.0564
0.0555
0.0593
0.0497
0.0481
0.0532
0.0517
0.0456
0.0443
0.0425
0.0370
0.0359
- align=right
align=center German mark
4.9750
4.8362
5.1221
4.8199
4.9225
5.5677
5.2977
4.6049
4.5381
4.3601
3.7929
3.6794
- align=right
align=center French franc
1.4767
1.4222
1.5115
1.4076
1.4392
1.5988
1.5583
1.3679
1.3537
1.3000
1.1309
1.0971
- align=right
align=center United States dollar
8.0230
8.0041
7.9723
7.9679
7.9602
7.9679
7.9664
7.9749
7.9788
7.9918
8.0260
8.0335
- align=right
align=center British Pound
14.3239
14.1421
14.0998
11.9638
12.1982
12.5766
12.4392
13.0709
13.2203
12.9284
12.1663
11.5698
- align=right
align=center Chinese yuan
0.9620
0.9637
0.9654
0.9695
0.9706
- align=right
align=center Taiwan dollar
0.2788
0.2384
0.2477
0.2574
0.2379
- align=right
align=center Euro
9.0177
8.9532
8.5277
7.4183
7.1962
- align=right
align=center Australian dollar
5.9341
5.0203
5.1574
4.6739
4.1598
- align=right
align=center Korean won
0.0086
0.0057
0.0067
0.0071
0.0062
- align=right
align=center Japanese yen
0.0661
0.0611
0.0704
0.0745
0.0662
- align=right
align=center Malaysian ringgit
2.8954
2.0387
2.1031
2.1121
2.1141
- align=right
align=center New Zealand dollar
5.2849
4.2816
4.2315
3.6684
3.3813
- align=right
align=center Singapore dollar
5.3851
4.7720
4.7160
4.6553
4.4867
- align=right
align=center Swiss franc
5.5020
5.5090
5.3278
4.7590
4.7638

See also

  • Economy of Macau
  • Portuguese Timorese pataca

Citations


Sources


  • All MOP exchange rates after 1990 are according to the historical China Statistical Yearbook.

External links

  • Abdullah Beydoun's Banknoteworld: Macau – a gallery of Macau banknote issues past and present
  • Banco Nacional Ultramarino (Macau)
  • Banknotes issued by the Banco Nacional Ultramarino.
  • Bank of China (Macau)
  • SinoBanknote
  • Historical banknotes of Macau

{{n-beforecurrency=Mexican dollar, Chinese dollar ratio=at par (with Mexican dollar)reason=creation of a local currency
Category:Fixed exchange rate
Category:Economy of Macau
Category:Currencies with multiple banknote issuers
Category:Currencies of Macau
Category:Currencies introduced in 1894
Category:Currencies introduced in 1906
Category:1894 establishments in Asia
Category:1906 establishments in Macau
 
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