The Bank of China and the BNU have signed an agreement with Macau to issue patacas for the next 10 years.
Macau.- The government of the SAR has signed a new agreement to retain the Bank of China (Macau) and the Banco Nacional Ultramarino (BNU) as issuers of Macau banknotes for the next 10 years.
The agreement was signed by Secretary for Economy and Finance Lei Wai Nong, alongside BOC (Macau) governor Li Guang and BNU Vice Chairman Carlos Cid Álvares.
The agreement, which will run until 15 October 2030, will continue to grant the two banks an “equal share of currency issuance.”
The banks are required to follow the laws regulating the currency issuance system and provide equivalent legal foreign exchange reserves for the banknotes issued. BNU has been issuing Macau patacas since 1906.