The Macau Pataca or Macanese pataca is the official currency of Macau. The Macau Pataca is abbreviated as MOP in the international currency exchange markets. Symbolically, the Macanese pataca is represented as MOP $.
The Macau Pataca (MOP) is further subdivided into 100 avos, while 10 avos are called a ho. Macau has a currency board system under which the Monetary Authority of Macau has a legal obligation to buy/sell MOP as per the demand at a fixed rate against the Hong Kong dollar. This way the value of the MOP is totally backed by the Hong Kong dollar.
However, Macau is a free market economy and has very low taxation rates. MOP $ trades freely in the currency exchange markets. Interestingly, the Central Bank of Macau is not the issuing and regulating authority for MOP. Instead, two commercial banks, the Banco Nacional Ultramarino and the Bank of China are the controlling authority for the Macanese Pataca.
Unfortunately, you won’t get far if you don’t have any pataca with you. The local currency runs incredibly similarly to the Hong Kong dollar, so much so that locals will often accept either (except for the HKD $10 coin).
Banknotes have been printed in both Portuguese and Chinese thanks to Macau’s unique history.
If you’re lucky, some places in Macau may also accept the Chinese yuan.
Something very satisfying to know, all MOP banknotes are the exact same size as the equivalent banknotes in Hong Kong dollars.
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