The MOP (sign: MOP$; code: MOP) is the currency of the Macau Special Administrative Region of the People’s Republic of China. It is subdivided into 100 avos , with 10 avos called ho in Cantonese. The abbreviation MOP$ is commonly used.
Macau has a currency board system under which the legal tender, Macau pataca, is 100 percent backed by foreign exchange reserves, in this case currently the Hong Kong dollar (itself backed by the United States dollar). Moreover, the currency board, Monetary Authority of Macau (AMCM), has a statutory obligation to issue and redeem Macau pataca on demand against the Hong Kong dollar at a fixed exchange rate of HK$1 = MOP$1.03, and without limit.