25
Striking the right note
Depending on your point of view, cash is either king or the root of all evil.
But in the case of the recently introduced new pataca banknotes, cash wants
to be a safe bridge between two cultures
A
s well as featuring
the city’s main monu-
ments, the new pataca
notes which came into circu-
lation recently, also displays
on the four bridges in the city
and monetary and banking of-
ficials hope this can be sym-
bolic of the bridge between
east and west which Macau
represents.
The new banknotes, is-
sued by the Bank of China,
were introduced so they
would be in circulation before
the traditional Spring Festival,
but they also come at a time
where the issue of banknote
forgery is gaining a higher
profile across greater China.
With this in mind, as well
as being themed on Macau’s
cultural heritage and featur-
ing monuments listed by
UNeSCO’s World Heritage
Committee as Humanity’s Cul-
tural Heritage, they have also the notes at the Bank of China Commission, said the new Nacional Ultramarino are the
been made using the latest anti- building, where the Chief ex- banknotes used the most up- two authorised note issuing
counterfeiting technology. ecutive edmund Ho Hau-wah to-date technology in terms banks.
was guest of honour, the Mon- of paper selection, printing In the past 13 years, new
Historic etary Authority of Macau’s and counterfeit prevention pataca notes have been issued
chairman Anselmo Tang said – including a windowed ho- four times.
In historic sequence, they there had been a considerable lographic safety thread and In 2003 and 2005, on the
feature the A-Ma Temple, the increase in the use of the cur- the use of different colours in request of the Monetary Au-
Ruins of St. Paul’s, the Dom rency in terms of circulation backlight. thority of Macau, the Bank of
Pedro V Theatre, the Guia For- volume and the size of daily Li said he hoped the new China Macao Branch modi-
tress, the Mandarin’s House, transactions. This was mak- patacas would fully satisfy the fied and reprinted notes with
and the Leal Senado Building ing the pataca more widely needs of both Macau citizens features which reinforced
on the 10, 20, 50, 100, 500 and known a currency among the and tourists, helping to boost counterfeit prevention.
1,000 bills respectively. 30 million visitors who vis- the city’s heritage and its role In September 2002 the
On the flip side are im- ited the city in 2008. as an international recreation Monetary Authority and
ages of Macau’s four bridges, Tang also thanked the and tourist hub. the Bank of China signed
and a graphic depiction of the China Banknote Printing and According to the Basic a cooperation agreement to
Bank of China Macau Branch Minting Corporation for the Law, the pataca will remain enhance the circulation and
building. work they had done in pro- as the territory’s legal tender conversion of the pataca on
The Monetary Author- ducing the new notes. and should be covered by a the mainland. The deal saw
ity of Macau and the Bank of reserve fund of no less than the opening of locations
China say the notes aims to Forgers beware 100 percent, ensuring its full for the exchange of patacas
project the MSAR as a bridge convertibility. and the the ability to have
between east and west. Li Lihui, President of the The Bank of China pataca savings deposits in
At a ceremony to launch Bank of China’s executive Macau Branch and the Banco Guangdong.
february 2009
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