22/04/2020: COVID-19 Impact
The COVID-19 pandemic caused disruptions in the Cambodian economy, leading to a decline in the value of the Riel.
20/12/2019: Macao–Hong Kong Financial Cooperation Agreement signed
The Macau and Hong Kong authorities signed a financial cooperation agreement to strengthen monetary and financial stability, impacting the value and role of the Macanese pataca.
04/01/2001: Riel Redenomination
The Cambodian government redenominated the Riel by removing four zeros, making it easier for transactions.
08/05/1995: Currency board system implemented
Macau adopted a currency board system, establishing a fixed exchange rate between the Macanese pataca and the Hong Kong dollar.
20/03/1995: Dollarization
Cambodia officially adopted a dual currency system, allowing the use of both Riel and the United States Dollar.
20/03/1994: Currency Stabilization
Cambodia implemented a new currency stabilization plan to control hyperinflation and stabilize the Riel.
07/01/1979: Liberation of Cambodia
Vietnamese forces liberated Cambodia from the Khmer Rouge, leading to the reestablishment of the Riel.
20/10/1977: Internationalization of the pataca
Macau allowed the international use and exchange of the Macanese pataca, strengthening its role as a stable and convertible currency.
17/04/1975: Khmer Rouge Regime
The Khmer Rouge regime took control of Cambodia, resulting in the abolition of currency and economic collapse.
08/06/1967: Link with Portuguese escudo reestablished
The Macanese pataca was once again pegged to the Portuguese escudo, ending the gold standard era.
11/07/1951: Introduction of the Riel
The Riel was established as the official currency of Cambodia, replacing the French Indochinese Piastre.
18/06/1948: Gold standard introduced
The Macanese pataca switched to the gold standard, with its value pegged to gold coins. The gold standard lasted until 1967.
17/03/1906: Silver standard established
Macau adopted the silver standard for the pataca, linking its value to silver coins in circulation. This standard remained in place until 1948.
27/10/1901: Introduction of Macanese pataca
The Macanese pataca was first introduced as the official currency of Macau, replacing the Portuguese real. It was initially pegged to the Portuguese escudo.