Macao Monetary Unit refers to the official currency used in Macao, which is a special administrative region of the People's Republic of China. The Macao Monetary Unit is also commonly known as the Macanese Pataca (MOP), symbolized as MOP$.
The Macao Monetary Unit has been the legal tender in Macao since it replaced the Portuguese Macau Pataca in 1999 when sovereignty over Macao was transferred from Portugal to China. It is managed and issued by the Monetary Authority of Macao, which ensures the stability and integrity of the currency. The Macao Monetary Unit is pegged to the Hong Kong dollar at a fixed exchange rate of 1:1.
The banknotes of the Macao Monetary Unit are available in denominations of 10, 20, 50, 100, 500, and 1,000 patacas. Coins are issued in denominations of 10, 20, and 50 avos, as well as 1, 2, 5, and 10 patacas. The currency features various motifs that reflect the rich cultural heritage of Macao, including historical landmarks, iconic buildings, local landscapes, and traditional customs.
The Macao Monetary Unit plays a crucial role in facilitating economic transactions in Macao, including domestic and international trade, tourism, and financial activities. It is widely accepted throughout Macao, although the use of the Hong Kong dollar is also prevalent. Furthermore, the Macao Monetary Unit provides stability and confidence to the local economy, encouraging investments and economic growth in the region.
