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.
01/01/2005: New Taiwan dollar banknotes issued
New designs for Taiwan dollar banknotes are issued, featuring innovative security features and updated aesthetics to combat counterfeiting and improve the currency's image.
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.
30/04/1991: Foreign Exchange Control Act revised
Taiwan relaxes its foreign exchange controls, allowing more flexibility in the trading of the Taiwan dollar and promoting financial globalization.
15/07/1987: Lifting of martial law
The martial law, which had been in place in Taiwan since 1949, is lifted, marking a significant milestone towards the democratization and liberalization of the country.
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.
16/12/1971: Taiwan's expulsion from the UN
The United Nations General Assembly recognizes the People's Republic of China as the legitimate representative of China, leading to Taiwan's expulsion from the UN and international isolation.
08/06/1967: Link with Portuguese escudo reestablished
The Macanese pataca was once again pegged to the Portuguese escudo, ending the gold standard era.
03/03/1952: TWD pegged to the US Dollar
The Taiwan dollar is pegged to the US Dollar at a fixed exchange rate of 32 TWD to 1 USD, stabilizing its value and promoting economic growth.
10/12/1949: Chinese Civil War ends
The Chinese Communist Party establishes the People's Republic of China on the mainland, leading to the Nationalist government's retreat to Taiwan, taking the Taiwan dollar with them.
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.
25/10/1945: Taiwan is restored to the Republic of China
After the end of World War II, Taiwan is returned to the Republic of China from Japan, and the Taiwan dollar becomes the official currency.
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.