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This meant that the Macau pataca was worth only 1 shilling and was therefore at a discount of 3 pence in relation to the Hong Kong unit. [citation needed] The first exclusively Macau coinage was not introduced until the year 1952, which happened to be the year after the last pataca fractional coins were minted for East Timor. In that year in ...
In 1951, minting of avo coins ceased, even though in 1952 a full set of pataca coinage, including coins denominated in avos and also a pataca coin, was issued in Macau. In 1958, the pataca was replaced by the escudo at the rate of 1 pataca = 5.60 escudos. In 1975, Portuguese Timor was invaded by Indonesia, and Indonesian currency was introduced.
The pataca is pegged to the Hong Kong dollar at a rate of 1.03 MOP per HKD, which is maintained by the AMCM. [32] Each pataca divides into 100 avos. Coins are issued in 10, 20, and 50 avos and 1, 2, 5, and 10 patacas (2 and 10 patacas coins are rarely used in the territory); notes are in 5, 10, 20, 50, 100, 500, and 1000 pataca denominations.
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The higher value coins, equivalent to US$1 and US$2 respectively, were designed to reduce the expense of replacing low-denomination U.S. banknotes as they wear out. [1] As of 2024, East Timor does not yet issue its own banknotes. The centavo coins are minted in Lisbon by the Imprensa Nacional-Casa da Moeda, the Portuguese
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Coins: 10, 20, 50 centavos, 1, 2 + 1 ... It replaced the pataca at a rate of 5.6 escudos = 1 pataca and was equivalent to the Portuguese escudo.
The Banco Nacional Ultramarino introduced its first pataca notes in 1906, in denominations of 1, 5, 50 and 100 pataca. The next year it introduced 10 and 25 pataca notes. The BNU began to issue lower-value notes with 5, 10 and 50 avo notes in 1920, and 1 and 20 avo notes in 1942. In 1944, it introduced a 500 pataca note.
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