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.
01/01/2011: Replacement of Paper Banknotes with Polymer Banknotes
Panama replaced the paper banknotes with polymer banknotes to enhance durability and security of the Balboa currency.
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.
31/03/1983: Currency Control Law Implemented
Panama implemented a currency control law to regulate the use and circulation of the Balboa and prevent counterfeiting.
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.
08/06/1967: Link with Portuguese escudo reestablished
The Macanese pataca was once again pegged to the Portuguese escudo, ending the gold standard era.
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.
15/10/1941: First Issue of Panamanian Balboa Banknotes
The first series of paper banknotes denominated in Balboa were issued by the Panamanian Currency Board.
01/10/1941: Introduction of the Balboa as Legal Tender
The Panamanian government introduced the Balboa as a legal tender, equivalent in value to the US dollar.
01/10/1908: Creation of Panamanian Currency Board
The Panamanian Currency Board was established to issue paper money and stabilize the monetary system.
01/01/1907: Use of US Dollar in Panama
The US dollar became the official currency of Panama due to the presence of American workers during the canal construction.
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.
18/11/1904: Panama Canal Construction Begins
The construction of the Panama Canal started, which would later lead to the need for a national currency.
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.