About Macau Pataca
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.
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MOP Stats |
MOP Profile |
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Currency Name: Macanese Pataca |
Central Bank: Central Bank of Macau |
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Symbol: MOP |
Denominations (Freq. Used): 10, 20, 50, 100, 500, 1000 MOP $ |
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Subunit: Avo |
Coins:10, 50 Avos, 1,5 MOP $ |
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Inflation Rate Macau: 1.2% |
Used: Macau |
How Can I Convert MOP to INR at the Best Rates in India?
If you are planning to visit Macau and looking to buy the exotic currency Macanese Pataca, you can order it online now and get it delivered at your home. You can also convert MOP to INR online in India at BookMyForex and get the best exchange rates.
Steps to Buy/Sell Macanese Pataca or Convert MOP to INR at BookMyForex:
Step 1: Visit BookMyForex.com or simply call at 9212219191
Step 2: Select the currencies (INR to MOP) and enter the amount that you want to exchange
Step 3: Upload necessary KYC documents and select your mode of payment
Step 4: Get your foreign exchange delivered directly to your home on the successful completion of the payment.
Why Should You Purchase Macau Pataca from BookMyForex?
Though apart from BookMyForex, you can buy/sell Macau Pataca or convert MOP$ to INR in India from banks, local money changers and at the airport itself. However, buying foreign exchange from such places involves multiple bank branch visits, going through a complex documentation process and paying hidden currency conversion charges.
Further, such places provide foreign exchange at a fixed rate for the day in terms of “Today’s Exchange Rate” Since the currency exchange market is highly volatile in nature, banks are forced to keep higher margins over the interbank rates to tread against such volatility which translates into higher costs for the customers.
However, BookMyForex provides Macau Pataca at live (dynamic rates) and pass the benefit of providing exchange rates close to the interbank rates to the customers in lower exchange rates. Also, apart from taxes levied by the government, BookMyForex does not impose any other hidden currency conversion charges.
