15/09/2021: Digitization of the Moroccan dirham
Morocco announced plans to digitize the dirham, introducing a central bank digital currency (CBDC) for financial transactions in the country.
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.
02/06/2014: Introduction of the fourth dirham
Another series of Moroccan dirham banknotes was issued, featuring new designs and enhanced security features.
02/07/2005: Dirham's exchange rate floatation
Morocco moved to a floating exchange rate regime, allowing the dirham to fluctuate based on market forces.
01/05/1999: Introduction of the third dirham
A new series of Moroccan dirham banknotes was introduced with enhanced security features.
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.
12/12/1980: Introduction of the second dirham
A new series of Moroccan dirham banknotes was issued to replace the first series.
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.
17/10/1974: Adoption of the dirham as the currency
The Moroccan franc was replaced by the Moroccan dirham (MAD) as the official currency.
08/06/1967: Link with Portuguese escudo reestablished
The Macanese pataca was once again pegged to the Portuguese escudo, ending the gold standard era.
26/11/1960: Introduction of the Moroccan franc (FRF)
The Moroccan franc was introduced as the official currency of Morocco.
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.