Macanese pataca
| 澳門圓 Template:Zh icon | |
|---|---|
| ISO 4217 | |
| Code | MOP (numeric: 446) |
| Subunit | 0.01 |
| Unit | |
| Plural | patacas (Portuguese only) |
| Symbol | MOP$ |
| Denominations | |
| Subunit | |
| 1/100 | avo |
| Plural | |
| avo | avos (Portuguese only) |
| Banknotes | MOP$10, MOP$20, MOP$50, MOP$100, MOP$500, MOP$1000 |
| Coins | 10, 20, 50 avos, MOP$1, MOP$2, MOP$5, MOP$10 |
| Demographics | |
| User(s) | Macau |
| Issuance | |
| Monetary authority | Monetary Authority of Macao |
| Website | www.amcm.gov.mo |
| Valuation | |
| Inflation | 3.8% |
| Source | The World Factbook, 2nd quarter, 2005 |
| Pegged with | Hong Kong dollar = MOP$1.03 |
The pataca is the monetary unit of Macau (currency code MOP; Chinese: 澳門圓), made up of 100 avos. Monetary policy is managed by the Monetary Authority of Macao. The abbreviation MOP$ is commonly used.
Etymology
The name "pataca" is derived from a formerly popular silver coin in Asia, the Mexican peso (eight reales), known in Portuguese as the pataca mexicana. Another version of the pataca was also used in Portuguese Timor, now East Timor, until 1957, when it was replaced by the escudo. The Chinese name for the currency is yuan (圓), which is the same word for Chinese yuan, New Taiwan dollar, and Hong Kong dollar.
History
The pataca was introduced in 1894 as a unit of account. It was initially equivalent to the Mexican peso, Spanish dollar, Hong Kong dollar and replaced the Portuguese real at a rate of one pataca for 450 reis.
The pataca has been the legal tender in Macau for over a century. The Banco Nacional Ultramarino (BNU; 大西洋銀行) has been the banknote-issuing authority since 1905. Pataca banknotes have been circulated in Macau since January 27, 1906. Pataca coins were first issued in 1952. However, owing to the small market demand in Macau, the second issue was postponed until 1967. The 1952 coins were bronze 5 and 10 avos, cupro-nickel 50 avos and 0.72 silver 1 and 5 patacas.
In 1980, the Macau Government transferred the exclusive right to issue patacas to the Instituto Emissor de Macau (IEM). The BNU became the IEM's agent bank and continued to issue banknotes. On agreement with the BNU on October 16, 1995, Bank of China, Macau branch (中國銀行澳門分行), became the second note-issuing bank. The authority to issue patacas was transferred to the Monetary Authority of Macao (AMCM).
Coins
Coins are issued by the Monetary Authority of Macao.
| Currently Circulating Coins | ||||
|---|---|---|---|---|
| Value | Composition | Obverse | Reverse | First Minted Year |
| 10 avos | Brass | "Macau", "澳門" | Value , ? | 1993 |
| 20 avos | Denomination , Dragon boat | |||
| 50 avos | Denomination , Lion dance | |||
| MOP$1 | Cupronickel | "Macau", "澳門" | Value , Guia Lighthouse | 1992 |
| MOP$2 | Denomination , Templo de A-Má | 1998 | ||
| MOP$5 | Denomination , Cathedral of Saint Paul, Chinese junk | 1992 | ||
| MOP$10 | Ring: Brass Center: Cupronickel |
"Macau", "澳門" | Value , Cathedral of Saint Paul | 1997 |
Banknotes
At the time of the first issuance, the only denominations were 1 pataca, 5 patacas, 10 patacas, 25 patacas, 50 patacas, and 100 patacas, with the 20-Cent coin from Canton Province. Later, Macau began issuing 5 avos, 10 avos, and 50 avos in February 1920. Not until 1942 did Macau issue smaller denominations like 1 avo, 5 avos, and 20 avos.
On August 8, 1988, BNU issued a 1000 pataca banknote, the highest value banknote yet. Because 8 in Chinese (Ba) is similar to "getting rich" (Fa; 發), 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 Banco Nacional Ultramarino's logo, symbolizing the fact that Macau would become part of the People's Republic of China.
The pataca comes in banknotes of 10, 20, 50, 100, 500 and 1000 patacas. Banknotes are issued by the Banco Nacional Ultramarino and the Bank of China. The current series of BNU banknotes was issued in 2005, while the Bank of China notes were last issued between 1995 and 2003. The physical sizes of the banknotes are "coincidentally" the same as that of Hong Kong banknotes. On December 20, 1999, the day Macau was retroceded to China, banknotes of all values (except for 10 patacas) by both banks were reissued with that date.
| Banco Nacional Ultramarino 1990 Series Banknote (being withdrawn) | |||||||
|---|---|---|---|---|---|---|---|
| Value | Dimensions | Color | Obverse | Reverse | Printed Date | Watermark | |
| MOP$10 | 138 × 69 mm | Brown | Dr. Sun Memorial Hall | A view of Macau in the 90's, Ponte Governador Nobre de Carvalho | July 8, 1991 | Chinese junk | |
| Red, Voilet | January 8, 2001 June 8, 2003 | ||||||
| MOP$20 | 143 × 71.5 mm | Violet | Old BNU headquarter | September 1, 1996 December 20, 1999 June 8, 2003? | |||
| MOP$50 | 148 × 74 mm | Yellow | Lion dance | July 13, 1992 December 20, 1999 June 8, 2003? | |||
| MOP$100 | 153 × 76.5 mm | Blue | Chinese junk | July 13, 1992 December 20, 1999 June 8, 2003 | |||
| MOP$500 | 158 × 79 mm | Green, yellow, orange | Templo de A-Má | September 3, 1990 December 20, 1999 June 8, 2003 | |||
| MOP$1000 | 163 × 81.5 mm | Red | Dragon | July 8, 1991 December 20, 1999 June 8, 2003 | |||
| Bank of China 1995 Series Banknote | |||||||
|---|---|---|---|---|---|---|---|
| Value | Dimensions | Color | Obverse | Reverse | Printed Date | Watermark | |
| MOP$10 | 138 × 69 mm | Brown | Guia Lighthouse and Monte fort | Bank of China, Macau branch | October 16, 1995 | Lotus | |
| Red, orange | January 8, 2001 February 2, 2002 December 8, 2003 | ||||||
| MOP$20 | 143 × 71.5 mm | Violet | Templo de A-Má | September 1, 1996 December 20, 1999 December 8, 2003 | |||
| MOP$50 | 148 × 74 mm | Yellow-grey | University of Macau | October 16, 1995 November 1, 1997 December 20, 1999 December 8, 2003 | |||
| MOP$100 | 153 × 76.5 mm | Blue | Jetfoil terminal | October 16, 1995 December 20, 1999 February 2, 2002 December 8, 2003 | |||
| MOP$500 | 158 × 79 mm | Green | Ponte de Amizade | October 16, 1995 December 20, 1999 February 2, 2002 December 8, 2003 | |||
| MOP$1000 | 163 × 81.5 mm | Orange | Sai Van (Praia de Bom Porto) | October 16, 1995 December 20, 1999 December 8, 2003 | |||
| Banco Nacional Ultramarino 2005 Series Banknote | |||||||
|---|---|---|---|---|---|---|---|
| Value | Dimensions | Color | Obverse | Reverse | Printed Date | ||
| MOP$10 | 138 × 69 mm | Yellow/Purple | Statue of Deusa A-Má of Macau | BNU building | August 8, 2005 | ||
| MOP$20 | 143 × 71.5 mm | Violet | Macau International Airport | August 8, 2005 | |||
| MOP$100 | 153 × 76.5 mm | Blue | Largo do Senado | August 8, 2005 | |||
| MOP$500 | 158 × 79 mm | Green | Macau Tower | August 8, 2005 | |||
| MOP$1000 | 163 × 81.5 mm | Orange | Macau Cultural Centre | August 8, 2005 | |||
The 2005 series of BNU was printed by Royal Joh. Enschedé, a security printing firm in the Netherlands.
Historical exchange rate
The following figures are included as a guide to the movements of the pataca against the pound sterling and the United States dollar:
| Date | May, 1980[1] | Feb, 2003 | May, 2003 | Aug, 2003 | Nov, 2003 |
| £1.00 | 11.60 | 12.79 | 13.15 | 13.24 | 13.94 |
| US$1.00 | 5.20 | 8.03 | 8.03 | 8.30 | 8.25 |
Despite the fact that the pataca is the official currency of Macau, most of the money in circulation in the territory is actually Hong Kong dollars. Patacas accounted for only 29.9% of Macau's money supply at the end of 1998.
| Current MOP exchange rates | |
|---|---|
| From Google Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD |
| From Yahoo! Finance: | AUD CAD CHF CNY EUR GBP HKD JPY USD |
| From XE.com: | AUD CAD CHF CNY EUR GBP HKD JPY USD |
| From OANDA: | AUD CAD CHF CNY EUR GBP HKD JPY USD |
The exchange rate is pegged and is approximately MOP$103 for HK$100 as of February 2004. 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. While it is possible to exchange patacas in Macau, it is difficult, if not impossible, to do so outside the territory, even in Hong Kong.
As there are currently no restrictions on the import or export of either local or foreign currency into or from Macau, visitors can change their currency in hotels, banks and authorized exchange dealers located all around the city. There are also 24-hour exchange counters 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.
References
- ^ Wheeler, Tony. South-East Asia on a Shoestring. 3rd ed. Melbourne: Lonely Planet, 1980.
- Tables of modern monetary history: Asia
- George S. Cuhaj, (S. editor), ed. (2005). Standard Catalog of World Paper Money, Vol. 3: Modern Issues, 1961-Date (11th ed. ed.). KP Books. ISBN 0-89689-160-7.
{{cite book}}:|edition=has extra text (help);|editor=has generic name (help) - Albert Pick (1996). Neil Shafer, George S. Cuhaj, Colin R. Bruce II (editors) (ed.). Standard Catalog of World Paper Money: General Issues to 1960 (8th ed. ed.). Krause Publications. ISBN 0-87341-469-1.
{{cite book}}:|edition=has extra text (help);|editor=has generic name (help)CS1 maint: multiple names: editors list (link) - Chester L. Krause, Cliffor Mischler, Colin R. Bruce II, et al. (editors), ed. (2003). 2004 Standard Catalog of World Coins: 1901-present (31st ed. ed.). Krause Publications. ISBN 0-87349-593-4.
{{cite book}}:|edition=has extra text (help);|editor=has generic name (help)CS1 maint: multiple names: editors list (link)
External links
- Template:Zh icon Template:Pt icon Template:En icon Banco Nacional Ultramarino (Macau)
- Template:Zh icon Template:En icon Bank of China (Macau)
- Template:Zh icon Template:En icon SinoBanknote
- Template:Zh icon City guide with coins and banknotes
| Preceded by: Mexican peso, Spanish dollar, Hong Kong dollar Reason: creation of a local currency Ratio: at par |
Currency of Macau 1906 – Note: the pataca was made the unit of account in 1894 |
Succeeded by: Current |