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The Macanese Pataca is pegged such that

1 HKD = 1.032 MOP (Wikipedia).

I understand that HKD are widely accepted in Macau.

However, if an item is listed as say 100 MOP and I try to pay using HKD, will I have to pay also 100 HKD (hence losing about 3.2 percent)? Or will I get a small discount---say I pay 97 HKD only, the fair rate being

100 MOP ÷ 1.032 (MOP / HKD) = 96.899 HKD

Assume I can speak Cantonese and am willing to bargain and haggle a little everywhere, if that can save me 3%. Will I get a fair rate at most places if I insist on paying using HKD?

Edit: After consultation with some who have been there recently, it appears that the folks in Macau quite strictly accept HKD and even CNY/RMB (!) on a 1-to-1 basis, so it is strongly advisable to change your HKD to MOP, if you wish to save the 3%.

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It is not uncommon to see a sign that says (in Chinese) RMB, HKD, MOP same price. Example.

My recommendation is that you just change your HKD (or RMB) to MOP -- there are money changers all over the place (at least in the touristy areas, which is where you'll probably be).

Occasionally someone might be willing to round things down a little - example: a taxi driver took 25 HKD for a 25.50 MOP fare. And occasionally if you try to pay using RMB, they'll ask you if you have MOP (RMB being worth about 30% more). But for the most part they'll be happy to absorb any surplus if you try paying by HKD or RMB. (Edit: Unless you are prepared to be extremely aggressive about it, as is the wont of some mainlanders.)

Edit 2: At Royal (来来) Supermarket, there was a sign stating the RMB to MOP and HKD to MOP exchange rates. That was the only place I came across which had such an officially posted notice. If I recall, the rate there was 1 RMB = 1.18 MOP; this is an improvement on the usual 1 to 1 at other places, but still considerably worse than the fair market rate.

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Before you leave Macau (and if you plan to never return) you should use all the Pataca up, but save your HKD. HKD can be used in either HK or Macau, but the Pataca only in Macau.

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