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20 Patacas Banco Nacional Ultramarino
| Issuer | Banco Nacional Ultramarino |
|---|---|
| Year | 2005-2017 |
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| Value | Log in to see details |
| Currency | Pataca (1894-date) |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | BANCO NACIONAL ULTRAMARINO REGULAMENTO ADMINISTRATIVO N.º 10/2005 MACAU 澳門 MACAU, 8 DE AGOSTO DE 2005 CONSELHO DE ADMINISTRAÇÃO 貳 拾 20 圓 PATACAS AEROPORTO INTERNACIONAL DE MACAU 澳門國際機場 (Translation: National Overseas Bank, Administrative Regulation No. 10/2005, Macao, 8th of August 2005, Board of Directors, Twenty Patacas, Macao International Airport) |
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| Protection type | Watermark |
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| Comments |
The Banco Nacional Ultramarino, originally chartered in Lisbon in 1864, had long been the note-issuing authority for Portuguese overseas territories. By the time this series entered circulation, BNU's role in Macau was purely residual — the Autoridade Monetária de Macau had overseen monetary policy since the 1989 handover preparations, and BNU continued issuing pataca notes only under a formal concession arrangement that survived the 1999 transfer of sovereignty to the PRC.
The pataca itself is pegged to the Hong Kong dollar at a fixed rate of 1.03 HKD, a relationship that has held without interruption since 1977.