The Pataca (MOP) is divided into 100 avos and it is Macao's official currency. There are banknotes and coins in the following denominations:
Coins: 10, 20 and 50 avos; 1, 2, 5 and 10 Patacas.
Banknotes: 10, 20, 50, 100, 500 and 1000 Patacas.
By the decision of the Government the Pataca is linked to the Hong Kong dollar (HKD). The exchange rate is MOP103.20 = HKD100.00. There is an acceptable variation up to 10%. Roughly 8 Patacas is equivalent to 1 US Dollar.
Foreign currency can be changed in hotels, banks and authorised exchange dealers located all around the city. If the visitor needs to change money outside the usual banking hours, there are 24 hours exchange counters operating in the Macau International Airport (Taipa Island) and in the Lisboa Hotel (Macao). Banks open normally from 9 a.m. to 5 p.m.. Most credit cards are accepted in many hotels, shops and restaurants.
According to the provisions of the Law, passengers arriving at Macao carrying cash or CBNIs, such as traveller's cheques, cheques, bills of exchange, money orders and promissory notes, with value of or exceeding MOP 120,000.00, should use the Red Channel with a completed declaration form and make a declaration to the Customs officer. Passengers leaving Macao need to disclose truthfully the amount of cash or CBNIs carried when asked by a Customs officer, or they shall be liable to a fine of MOP 1,000.00 to MOP 500,000.00. Travelers who have a layover in Macao SAR and transit to another destination have no obligation of declaration. For more details, please visit the Macao Customs Service's websdite: www.customs.gov.mo/cn/customs6.html