In 1919, the Macao government issued the first banknote, which was issued by the Atlantic Ocean Foreign Exchange Management Bank for 16 million yuan, which was divided into 9 kinds, including 100 yuan, 50 yuan, 20 yuan, 10 yuan, 5 yuan, 1 yuan, 5 jiao, 2 jiao, and 1 jiao. Initially, the issuance reserve was only HK$100,000, but it was supported by HSBC hong Kong, which allowed it to set up an office in Hong Kong and exchange it in Hong Kong dollars at any time, so it could eventually pass in Macau. Each firm or resident must deposit Hong Kong dollars or silver with a bank account, while withdrawals are made in Portuguese currency. The pictures show old banknotes and bills that have been de-circulated. Image source: Macau Memory.
