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The ISO 4217 currency code for the Macau Pataca.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
ISO 4217 code for the Macanese pataca. 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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved