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Macanese Pataca
(redirected from Macao pataca)

   Also found in: Wikipedia 0.01 sec.
Macanese Pataca
The currency of Macau. It was introduced in 1894. Macau is a special administrative region of China. Perhaps because of this the pataca is pegged to the Hong Kong dollar using a currency board system. That is, the Monetary Authority of Macau it legally obligated to redeem pataca for the equivalent amount of Hong Kong dollars on demand.


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The Gaming Inspection and Coordination Bureau of Macao, the former Portuguese enclave returned to Chinese rule in 1999 and cracked open its four-decade old casino monopoly once held by mogul Stanley Ho in 2002, said gross revenue from casinos grew 23 percent to near 55 billion Macao patacas (US$7.
 
 
 
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