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

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

  • 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
Enoch Yiu

Updated: 2:17pm, 28 Dec, 2019

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