The challenge for Macau lies in elevating the local currency, known as the Macanese pataca, in international investment and trade. Photo: Shutterstock

Explainer: Macau’s currency, fixed exchange rate and banking system

Name: SCMP
Telephone: +852-2680-8888

Macau has 30 licensed financial institutions serving a city population of 672,000, a market dominated by China’s largest lenders
The city is considered the second wealthiest place on earth on GDP per capita basis, and is poised to overtake Qatar in 2020, according to IMF

Topic | Banking & Finance

Enoch Yiu

Published: 2:00pm, 28 Dec, 2019

Updated: 2:17pm, 28 Dec, 2019

The challenge for Macau lies in elevating the local currency, known as the Macanese pataca, in international investment and trade. Photo: Shutterstock

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Enoch Yiu

Enoch joined the Post as a business reporter in 1996. Before that, she worked at a Chinese daily newspaper for four years. She is author of two books: 'They Mean Business: 50 exclusive interviews with Hong Kong top executives' and 'Serving with Passion: stories of established catering brands in Hong Kong'.