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BNU, Bank of China sign new 10-year agreement to issue Macau banknotes

The Macau SAR government has signed a new banknote issuance agreement that will see the Bank of China (Macau) and Banco Nacional Ultramarino (BNU) issue banknotes for the next 10 years.

Under the terms of the agreement, which will run until 15 October 2030, the government will continue to grant the two banks an “equal share of currency issuance.”

It added that the banks are required to “follow the laws regulating the currency issuance system and provide equivalent legal foreign exchange reserves for the banknotes issued.”

The agreement was signed on Friday by Secretary for Economy and Finance Lei Wai Nong, alongside BOC (Macau) governor Li Guang and BNU Vice Chairman Carlos Cid Álvares (centre, left and right respectively in main picture).

BNU has been issuing Macau patacas since 1906.

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