Macau Patacas (MOP)

Macau Patacas (MOP) is the official currency used in the Macau Special Administrative Region. Macau is a special administrative region of China and has a unique economic and political status similar to Hong Kong.

Macau Pataca is issued and distributed by the Macau government and serves as the official currency of Macau. Its ISO 4217 code is MOP. The Pataca is widely accepted and used in Macau.

The Macau Pataca is divided into 100 avos. Avo is a smaller unit and is commonly used for pricing. However, in daily transactions, Pataca is generally used. Banknotes are available in denominations of 10, 20, 50, 100, 500, and 1000 Patacas. Coins are available in denominations of 10, 20, 50 avos, and 1, 2, 5, 10 Patacas.

The Macau Pataca is pegged to the Hong Kong Dollar at a fixed exchange rate. Therefore, both Pataca and Hong Kong Dollar are accepted as valid currencies in Macau. The exchange rate between the two currencies is fixed, and 1 Hong Kong Dollar is approximately equal to 1.03 Macau Patacas.

Macau Pataca is widely used in the Macau economy, where tourism and gambling industries play a significant role. Macau is one of the world’s largest gambling centers and attracts a large number of tourists and casino revenues.

In conclusion, Macau Pataca is the official currency used in the Macau Special Administrative Region. It is linked to the Hong Kong Dollar at a fixed exchange rate and plays a significant economic role due to the influence of the tourism and gambling industries.