Macau Currency
Macau currency is hooked to the Hong Kong dollar. As the later is pegged to the U.S. dollar, the Macau Pataca is indirectly pegged to the US dollar. The HK$100 stands at 103.20 Macau Pataca. No need to exchange your currency if your Macau visit is very short. People of Macau readily accept the Hong Kong dollars. Hotel and restaurant rates are generally quoted in Hong Kong dollars. One may get approximately 8 Macau Pataca for each US$1.
Macau currency, the Macau Pataca was first printed in 1905. At that time the Portuguese Macau Government, in the absence of any central bank in Macau was the sole authority to issue currency in Macau. Since 1965, the Macau Branch of the Bank of China has been entrusted to issue currency notes. The commercial banks in Macau are required to handover their foreign exchange earnings to the Macau Monetary and Cambial Authority against debt certificates to permit them to Macau Pataca.
Macau currency system is free from foreign exchange control regime. Macau residents
may visit banks or money change shops directly and buy foreign currencies exchanging
the Macao Pataca. Monetary and Cambial Authority of Macao, the highest financial
authority in Macao exercises functions of a quasi-central bank scrutinizing
and supervising the banking business and helping the government in formulation
and implementation of monetary policies. The backing of Macau Pataca with 100%
reserve fund and considerable autonomy given by the Chinese mainland government
makes Macau Currency as well as the monetary system a saga of success.
Asiarooms provides information about Macau Travel. For further information,
explore the relevant links on Asiarooms.
| Hotels in Macau | |
| Hotel Regency | Hotel New Century |
| Hotel Pousada Marina Infante | Hotel Ritz |
| Hotel Metropark Macau formerly Grandeur | Hotel Guia |
