Macanese Pataca

(redirected from Macau pataca)
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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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References in periodicals archive ?
The airline's CEO Reg Macdonald declines to say how much the loan is for but local news reports, quoting Macau's secretary for economy and finance, Francis Tam, says the loan is for 200 million Macau patacas ($25 million).