The Macanese pataca or Macau pataca (; ; sign: MOP$; ISO code: MOP) is the currency of Macau. It is subdivided into 100 avos (; sin), with 10 avos called ho () in Cantonese.

Macau has a currency board system under which the pataca is 100 per cent backed by foreign exchange reserves, in this case currently the Hong Kong dollar (itself backed by the United States 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 Spanish dollar was in wide use in Asia and the Americas between the 16th to 20th centuries, and was imported by China in large quantities. They were typically minted in Mexico and then brought to the Philippines as part of the Spanish East Indies through the Manila-Acapulco galleon trade to be traded and circulated across the Far East. It was known to the Portuguese as the pataca mexicana. At the end of the 19th century various versions of this silver dollar or pataca were in use in Macau, in the form of Spanish dollars, the British 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 1894, the pataca was introduced as a unit of account in Portuguese Macau and Portuguese Timor at a rate of 1 pataca = 450 réis, equivalent to the Mexican peso or Philippine peso. 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 27 January 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. Conversely, 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 MOP 1 = Esc 5$50. This meant that the Macau pataca was worth only 1 shilling and was therefore at a discount of 3 pence 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.

+Pegs for the Macau patacaDate established1 pataca =18941 Spanish/Mexican/Philippine peso19355.5 Portuguese escudos19495 Portuguese escudos19674.75 Portuguese escudos19735.015 Portuguese escudos 1 Hong Kong dollar =19771.075 patacas19781.0025 patacas19791.0425 patacas19831.03 patacas

In 1980, the Macau government set up the Issuing Institute of Macau (Instituto Emissor de Macau; abbr. as IEM), which was given the monopoly right to issue pataca notes. The BNU became the IEM's agent bank and continued to issue banknotes. On agreement with the BNU on 16 October 1995, the Macau branch of Bank of China (, ) became the second note-issuing bank. The authority to issue patacas was transferred to the Monetary Authority of Macau.

Coins Coins were not issued for use in Macau until 1952, with the 20 cent coin of Canton Province circulating. In 1952, bronze 5 and 10 avos, cupro-nickel 50 avos and .720 fineness silver 1 and 5 patacas were introduced. Nickel-brass replaced bronze in 1967, including the last issue of 5 avos. Nickel replaced silver in the 1 pataca in 1968. In 1971, a final (.650 fineness) silver issue of 5 patacas was produced.

Brass 10, 20 and 50 avos and cupro-nickel 1 and 5 patacas were introduced in 1982. The 20 avos and 5 patacas became dodecagonal in 1993 and 1992, respectively, whilst a bimetallic 10 patacas was introduced in 1997 and a cupronickel 2 patacas in 1998. Coins are issued by the Monetary Authority of Macau.

+Currently circulating coins Image Value Description First Minted YearObverse Reverse Composition Obverse Reverse 10 avos Brass "Macau", "" Value, Lion Dance Costume Head 1993 20 avos Denomination, Dragon boat 50 avos Denomination, Dragon dance $1 Cupronickel Value, Guia Lighthouse 1992 $2 Denomination, Templo de A-Má and Penha church 1998 $5 Denomination, Cathedral of Saint Paul, Chinese junk 1992 $10 Ring: BrassCenter: Cupronickel Value, St. Dominic's Church of Macau 1997

Banknotes

In a similar arrangement to the issue of banknotes in Hong Kong, Macau's banknotes are not issued by a central bank or monetary authority but by two commercial banks, the Banco Nacional Ultramarino and the Bank of China. Owing to Macau's Portuguese colonial past, banknotes are printed in Portuguese as well as Chinese, including the name of the Bank of China which is written as both "" and "".

Following the initial issues of pataca banknotes in 1906, the new currency was supplemented the following year by 10 and 25 pataca notes, and in February 1920, 5, 10 and 50 avo notes were added. In 1923, the Banco Vui Hang introduced 10 pataca notes which stated that they were backed by Cantonese 20 cent coins.Dez patacas em moedas subsidiaris de 20 avos de cantão. These notes were followed until 1934 by cashier's cheques issued by various banks in denominations of 1, 5, 10, 50, 100, 200, 400, 800 and 1,000 dollars, presumably equivalent to the pataca. The BNU issues were augmented by 1 and 20 avo notes in 1942, and in 1944, 500 pataca notes were introduced. Also in 1944, further cashier's cheques were issued, denominated 1,000 yuan and NC$5,000. The 25 pataca note was discontinued after 1958.

On 8 August 1988, BNU issued a 1000 pataca banknote, the highest value banknote yet. Because 8 in Chinese (ba) is similar to "getting rich" (fa; ), this unique date, which occurs only once per century, gives the note a special meaning. Another feature is the replacement of the coat of arms of Portugal with BNU's logo, shedding a political symbol in the prospect of reunification with China. In 1995, the Bank of China introduced notes in denominations of 10, 50, 100, 500 and 1000 patacas. Both the BNU and Bank of China introduced 20 pataca notes in 1996.

Current issue Banknotes are currently issued in denominations of 10, 20, 50, 100, 500 and 1,000 patacas. The current series of BNU banknotes was issued in 2005, while the Bank of China notes were last issued between 1995 and 2003. The dimensions of the banknotes are the same as that of Hong Kong banknotes worth the corresponding number of dollars. On 20 December 1999, the day Macau was retroceded to China, banknotes of all values (except for 10 patacas) by both banks were reissued with that date. On 5 January 2009, the Monetary Authority of Macau announced a new series of banknotes, dated 2008, released by the Bank of China.Bank of China, Macau Branch Issues New Pataca Notes. amcm.gov.mo In 2024, both the Banco Nacional Ultramarino and the Bank of China (Macau) are set to introduce a new series of notes. The denomination structure is the same as previous issues, but the notes come with advanced security features and include features accessible for those with visual impairments. Banco Nacional Ultramarino 1990 Series BanknoteValue Description Printed Date Watermark Dimensions Color Obverse Reverse $10 138 × 69 mm Brown Sun Yat Sen Memorial House A view of Macau in the 1990s, Ponte Governador Nobre de Carvalho 8 July 1991 Chinese junk $10 Red, Violet 8 January 20018 June 2003 $20 143 × 71.5 mm Violet Old BNU headquarters 1 September 199620 December 1999 $50 148 × 74 mm Yellow Lion dance 13 July 199220 December 1999 $100 153 × 76.5 mm Blue Chinese junk 13 July 199220 December 19998 June 2003 $500 158 × 79 mm Green, yellow and orange A-Ma Temple 3 September 1990 20 December 1999 8 June 2003 $1,000 163 × 81.5 mm Red Dragon 8 August 1988 8 July 1991 20 December 1999

Bank of China 1995 Series BanknoteValue Description Printed Date Watermark Dimensions Color Obverse Reverse $10 138 × 69 mm Brown Lighthouse at Guia Fortress Bank of China, Macau branch 16 October 1995 Lotus $10 Red and orange 8 January 20012 February 2002 8 December 2003 $20 143 × 71.5 mm Violet A-Ma Temple 1 September 1996 20 December 1999 8 December 2003 $50 148 × 74 mm Yellow-grey University of Macau 16 October 1995 1 November 1997 20 December 1999 $100 153 × 76.5 mm Blue Outer Harbour Ferry Terminal 16 October 1995 20 December 1999 2 February 2002 8 December 2003 $500 158 × 79 mm Green Ponte de Amizade $1000 163 × 81.5 mm Orange Sai Van (Praia do Bom Parto) 16 October 199520 December 19998 December 2003

Banco Nacional Ultramarino 2005 Series BanknoteImage Value Description Printed Date WatermarkObverse Reverse Dimensions Color Obverse Reverse $10 138 × 69 mm Red Statue of Mazu BNU building 8 August 2005 8 August 201011 November 20136 November 2017 Lotus $20 143 × 71.5 mm Violet Macau International Airport $50 148 x 74 mm Brown Sai Van Bridge 8 August 2009 11 November 20136 November 2017 $100 153 × 76.5 mm Blue Largo do Senado (Senate Square) 8 August 2005 8 August 2010 11 November 20136 November 2017 $500 158 × 79 mm Green Macau Tower $1,000 163 × 81.5 mm Orange Macau Cultural Centre

Bank of China 2008 Series BanknoteImage Value Description Printed Date WatermarkObverse Reverse Dimensions Color Obverse Reverse $10 138 × 69 mm Red A-Ma Temple Bank of China, Macau branch 8 August 2008 1 July 2013 6 November 2017 Lotus $20 143 × 71.5 mm Violet Façade of the ruins of Saint Paul's Cathedral $50 148 × 74 mm Brown Dom Pedro V Theatre $100 153 × 76.5 mm Blue Guia Lighthouse and Monte fort $500 158 × 79 mm Green Casa do Mandarim (House of the Mandarin) $1,000 163 × 81.5 mm Orange Leal Senado (Loyal Senate)

Bank of China 2020 Series BanknoteValue Description Printed Date Watermark Dimensions Color Obverse Reverse $10 138 × 69 mm Red the building of Bank of China in Macau, Southern Lion Macau Tower observation lounge 18 May 2020 Lotus $20 143 × 71.5 mm Violet Macau Science Center Exhibition Center and the Planetarium $50 148 × 74 mm Brown Kiang Wu Hospital History Heritage Museum $100 153 × 76.5 mm Blue Tung Sin Tong Historical Archive Exhibicion Hall $500 158 × 79 mm Green A-Ma Temple $1,000 163 × 81.5 mm Orange Chinese junk

Banco Nacional Ultramarino 2023 Series BanknoteValue Description Printed Date Watermark Dimensions Color Obverse Reverse $10 138 × 69 mm Red BNU Building Map of Macau in 1635 18 May 2020 Lotus $20 143 × 71.5 mm Violet Map of Macau in 1780 $50 148 × 74 mm Brown Map of Macau in 1889 $100 153 × 76.5 mm Blue Map of Macau in 1949 $500 158 × 79 mm Green Map of Macau in 1986 $1,000 163 × 81.5 mm Orange Map of Macau in 2022

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.