Macanese Pataca (MOP) to US dollar (USD)

The MOP/USD exchange rate represents the value of the Macanese pataca (MOP) against the US dollar (USD). This directed pair indicates how many US dollars are required to purchase one Macanese pataca. An appreciation of the pataca means it strengthens relative to the dollar, making Macao's goods and services more expensive for US consumers and reducing the cost of US imports for Macao. The pair is primarily used by businesses and travelers engaged in trade, tourism, and investment between Macao and the United States.

The Macanese pataca is managed under a currency board system that pegs it to the Hong Kong dollar (HKD) at a fixed rate of 1 MOP = 1.03 HKD. Since the Hong Kong dollar itself is pegged to the US dollar within a narrow band (7.75–7.85 HKD per USD), the MOP effectively moves in tandem with the USD. This indirect peg means that MOP/USD is highly stable, with fluctuations limited to the HKD/USD band. Monetary policy for Macao is effectively set by the Hong Kong Monetary Authority, which follows the US Federal Reserve's interest rate decisions to maintain the HKD peg. Key drivers include US interest rate differentials, inflation trends, and global risk sentiment, as well as Macao's reliance on gaming and tourism revenues, which affect capital flows and demand for the pataca.

Over the past several years, the MOP/USD rate has remained remarkably stable due to the currency board arrangement. The pataca has traded within a very narrow range around 0.124 USD, reflecting the HKD/USD peg. During periods of global economic uncertainty, such as the COVID-19 pandemic, the peg provided stability, though Macao's tourism-dependent economy experienced significant volatility. The rate has not experienced any major breaks or realignments, as the currency board system is well-established and credible. Looking ahead, the pair is expected to continue its stable trajectory as long as the Hong Kong dollar remains pegged to the US dollar, with any changes in the peg being the primary risk to the current regime.