DEFINITION of 'MOP (Macanese Pataca)'

The currency abbreviation for the Macanese pataca, the currency for Macau. The Macanese pataca is made up of 100 avo or 10 ho, and is often presented with the symbol MOP$ (ex. MOP$100). The Macanese pataca is 100% backed by the foreign exchange reserves of the Hong Kong dollar (HKD).

BREAKING DOWN 'MOP (Macanese Pataca)'

The Macanese pataca was first introduced in 1894 and was equivalent to the Mexican peso, Spanish dollar and the Hong Kong dollar - which were all equivalent at that time, replacing the Portuguese real at a rate of 450:1. The pataca was initially pegged to the Hong Kong dollar at par, but from 1935 until 1976, it was pegged to the Portuguese escudo. The peg returned to the Hong Kong dollar in 1977.

RELATED TERMS
  1. MOP

    In currencies, this is the abbreviation for the Macau Pataca.
  2. HKD (Hong Kong Dollars)

    The currency abbreviation or currency symbol for the Hong Kong ...
  3. Hong Kong Stock Exchange (HKG) ...

    One of the world's largest securities markets by market capitalization, ...
  4. Hong Kong SAR, China

    Hong Kong is a financial and business center in China.
  5. Hong Kong Exchanges and Clearing ...

    A publicly-traded holding company created in 2000 through the ...
  6. Hong Kong Monetary Authority - ...

    The central bank of Hong Kong. Established in 1993, the HKMA's ...
Related Articles
  1. Trading

    The Hong Kong Dollar: What Every Forex Trader Needs To Know

    Find out everything you need to know about the eighth most traded currency in forex.
  2. Investing

    How To Trade In The Hong Kong Stock Exchange (ETFC, SCHW)

    The Hong Kong Stock Exchange may soon become the third-largest exchange in the world.
  3. Investing

    The Top 3 ETFs For Investing in Hong Kong

    Discover information and analysis of three exchange traded funds that investors can use to access potential profits from investing in Hong Kong.
  4. Insights

    Hong Kong’s GDP Narrows Unexpectedly in Q1

    The GDP of Hong Kong contracted by a seasonally adjusted 0.4% in Q1 2016 as compared to the previous quarter
  5. Investing

    How a Special Administrative Region Works

    A special administrative region is unique to The People’s Republic of China. These regions are created by the central government in China to allow certain areas to operate with a high degree ...
  6. Investing

    EWH: iShares MSCI Hong Kong ETF

    Learn about the iShares MSCI Hong Kong fund, which invests in various equities of companies listed on the Hong Kong Stock Exchange.
  7. Insights

    What You Should Know About Hong Kong SAR

    You might know that Hong Kong is both a bastion of capitalism separate from (but also administered by) socialist China. How did it get that way?
  8. Insights

    Top 6 Billionaires Living in Hong Kong

    Read about the six wealthiest men in Hong Kong, each of whom posted a $10+ billion net worth in Forbes' list of the richest people in Hong Kong.
  9. Investing

    Hong Kong PMI Continued to Contract in June

    HongKong’s Purchasing Managers’ Index continued its decline for the 16th straight month in June.
  10. Investing

    Hong Kong Monthly Home Sales Hit 25-year Low

    Hong Kong's property market is facing a major turnaround as prices have steadily fallen since September.
RELATED FAQS
  1. Is there a difference between the special administrative regions of Hong Kong and ...

    As Special Administrative Regions (SARs) of the People's Republic of China, Hong Kong and Macau differ somewhat in their ... Read Answer >>
  2. Why is Macau considered a tax haven?

    Discover Macau's tax benefits and learn why the city is known as a tax haven. Macau is a special administrative region in ... Read Answer >>
  3. Why is Hong Kong considered a tax haven?

    Discover why Hong Kong is one of the world's leading tax havens. Low taxation on high-net-worth individuals and corporations ... Read Answer >>
  4. What makes China's special administrative regions (SAR) so special?

    Learn why China's special administrative regions are special and why they have many of the same characteristics of independent ... Read Answer >>
  5. Are Chinese special administrative regions (SAR) special status permanent?

    Find out whether the special status of China's special administrative regions, Hong Kong and Macau, is intended to be a permanent ... Read Answer >>
  6. Can a special administrative region declare autonomy?

    Learn more about the "one government, two systems" approach used by the People's Republic of China with respect to Hong Kong ... Read Answer >>
Hot Definitions
  1. Cover Letter

    A written document submitted with a job application explaining the applicant's credentials and interest in the open position. ...
  2. 403(b) Plan

    A retirement plan for certain employees of public schools, tax-exempt organizations and certain ministers. Generally, retirement ...
  3. Master Of Business Administration - MBA

    A graduate degree achieved at a university or college that provides theoretical and practical training to help graduates ...
  4. Liquidity Event

    An event that allows initial investors in a company to cash out some or all of their ownership shares and is considered an ...
  5. Job Market

    A market in which employers search for employees and employees search for jobs. The job market is not a physical place as ...
  6. Yuppie

    Yuppie is a slang term denoting the market segment of young urban professionals. A yuppie is often characterized by youth, ...
Trading Center