PATACA Meaning and
Definition
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Pataca is a noun that refers to the official currency of Macau, a Special Administrative Region of China. In its dictionary definition, pataca is a monetary unit used primarily in Macau, similar to other currencies like the dollar or the euro. It is symbolized by the abbreviation "MOP", derived from Macanese Pataca, and its sign is "$" or "MOP$" when denoted with its currency code.
The pataca is subdivided into 100 avos, with coins and banknotes issued in various denominations. The currency is used for everyday transactions within Macau, including purchases, payments, and financial dealings. Moreover, it is accepted as legal tender within the region and can be exchanged for other currencies in authorized financial institutions or foreign exchange bureaus.
Historically, the pataca has had a fixed exchange rate with the Hong Kong dollar, as Macau was a former colony of Portugal and maintained close economic ties with the neighboring British colony. However, after the transfer of sovereignty to China, the currency's fixed link with the Hong Kong dollar was replaced by a peg to the Chinese yuan.
Overall, the pataca plays a vital role in Macau's economy, facilitating trade and commerce while promoting financial stability within the region.
Common Misspellings for PATACA
- oataca
- lataca
- -ataca
- 0ataca
- pztaca
- pstaca
- pwtaca
- pqtaca
- paraca
- pafaca
- pagaca
- payaca
- pa6aca
- pa5aca
- patzca
- patsca
- patwca
- patqca
- pataxa
- patava
Etymology of PATACA
The word "pataca" has an interesting etymology. It originated from the Portuguese language and was introduced in Macau, which was a Portuguese colony for over 400 years until 1999.
The term "pataca" is believed to have derived from a Chinese word, "patákè" (怕打客), which means "to be afraid of hitting customers". This term was used to describe a tax or fee imposed by Chinese merchants in Macau whenever they sold goods to foreign traders, especially during the 19th century.
Over time, the term "patákè" transformed into "pataca" in Portuguese, and it began to be used to refer to the currency used in Macau. Today, the Macanese pataca is the official currency of Macau, although it shares a currency board system with the Hong Kong dollar.
Similar spelling words for PATACA
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