Macanese Pataca

(redirected from Macao pataca)

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.
References in periodicals archive ?
The notes will be denominated in Chinese yuan, HK dollar, US dollar and Macao pataca.
The appreciation of the renminbi against the Macao pataca has also increased the price competitiveness of Macao.
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$7.1 billion) last year from 44.7 billion patacas in 2005.