Macau: Using Hong Kong dollars (HKD) instead of Macanese Patacas (MOP)

The Macanese Pataca is pegged such that

1 HKD = 1.032 MOP (Wikipedia).

I understand that HKD are widely accepted in Macau.

However, if an item is listed as say 100 MOP and I try to pay using HKD, will I have to pay also 100 HKD (hence losing about 3.2 percent)? Or will I get a small discount---say I pay 97 HKD only, the fair rate being

100 MOP ÷ 1.032 (MOP / HKD) = 96.899 HKD

Assume I can speak Cantonese and am willing to bargain and haggle a little everywhere, if that can save me 3%. Will I get a fair rate at most places if I insist on paying using HKD?

Edit: After consultation with some who have been there recently, it appears that the folks in Macau quite strictly accept HKD and even CNY/RMB (!) on a 1-to-1 basis, so it is strongly advisable to change your HKD to MOP, if you wish to save the 3%.

Best Answer

Before you leave Macau (and if you plan to never return) you should use all the Pataca up, but save your HKD. HKD can be used in either HK or Macau, but the Pataca only in Macau.

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Can you use HKD in Macau?

While HKD is widely accepted in Macau, the same isn't true when it comes to the MOP in Hong Kong. It is not accepted anywhere. As such, if you end up with some MOP, perhaps some change from a purchase made during your daytrip to Macau then try to spend it before returning to HK or back to your home country.

Is MOP the same as HKD?

Instead, it is administered by two commercial banks, the Banco Nacional Ultramarino and the Bank of China. It is pegged to the Hong Kong dollar (HKD) at a fixed rate of one Hong Kong dollar to 1.03 Macanese patacas. As of December 2020, 1 MOP (and 1 HKD) is equal to US $0.13.

Why does Macau use HKD?

Businesses and people in Macau accept HKD purely because: The majority of Macanese have some sort of ties to Hong Kong either through family, work or socially, and they frequently travel to HK. So they have plenty of opportunities to spend the HKD they received, without having to exchange back to MOP.

The Problems with Macau Patacas

Sources: Stack Exchange - This article follows the attribution requirements of Stack Exchange and is licensed under CC BY-SA 3.0.

Images: Tima Miroshnichenko, Tima Miroshnichenko, Tima Miroshnichenko, Liza Summer