50 Patacas Banco Nacional Ultramarino

Banco Nacional Ultramarino lost its note-issuing role in Macau when the Autoridade Monetária de Macau took over in 2010, making this a curious survival — BNU continues to print and issue currency for Macau under a formal arrangement alongside the AMCM, one of the few cases where a private Portuguese-chartered bank retained co-issuing rights into the third decade of the twenty-first century. The 50 Patacas denomination has historically been the workhouse of Macau's cash economy, far more commonly encountered in daily transactions than the higher values.

G+D's Munich operation produced the sheets on cotton substrate with a fairly minimal security specification for a 2020 date — watermark and thread without more advanced features suggests this is positioned as a mid-tier denomination with cost-appropriate protection.