Portuguese Timorese pataca

Infobox Currency
currency_name_in_local = Pataca timorense pt icon
using_countries = Portuguese Timor
inflation_method = CPI?
subunit_ratio_1 = 1/100
subunit_name_1 = avo
used_coins = 10, 20, 50 avos
used_banknotes = 5, 10, 50 avos, 1, 5, 10, 50, 100 patacas
issuing_authority = Banco Nacional Ultramarino
obsolete_notice = Y

The pataca was the currency of Portuguese Timor between 1894 and 1959, except for the period 1942-1945, when the occupying Japanese introduced the Netherlands Indies gulden and roepiah. It was equal in value to the Macanese pataca and was subdivided into 100 "avos".

History

Initially, Macanese coins and notes were used. These were supplemented from 1912 by locally issued banknotes of the Banco Nacional Ultramarino, although no coins were issued specifically for Timor until 1945. Upon introduction, the pataca was equal to the silver Mexican peso. It was replaced by Japanese issues of the Netherlands Indies gulden in 1942 and par. When the pataca was reintroduced, it was pegged to the Portuguese escudo at a rate of 5.5 escudos = 1 pataca. This rate was changed to 5 in 1949. However, when the pataca was replaced by the escudo in 1956, the rate of 1 pataca = 5.6 escudos was used.

Coins

In 1945, bronze 10 avos, nickel-bronze 20 avos and silver 50 avos coins were introduced. The sizes of these coins matched those of the Portuguese 20 centavos and 1 and 2½ escudos. Coins were issued until 1951.

Banknotes

In 1912, the Banco Nacional Ultramarino introduced notes (dated 1910) in denominations of 1, 5, 10 and 20 patacas. 25 patacas notes from Macao also circulated. In 1940, 5, 10 and 50 avos notes were introduced. Some of these notes were overprints of Macanese notes, as were the 5, 25 and 100 patacas notes introduced in 1945. The same year, specific issues for Timor were introduced in denominations of 1, 5, 10, 20 and 25 patacas, followed by 20 avos in 1948.

ee also

* Macanese pataca

References

*numis cite SCWC|date=1991
*numis cite SCWPM|date=1994

External links

Standard numismatics external links
world_coin_gallery_1_url = Timor
world_coin_gallery_1_name = East Timor
banknote_world_1_url = timor
banknote_world_1_name = East Timor
dollarization_1_url = tp
dollarization_1_name = East Timor
gfd_1_url =
gfd_1_name =
gfd_data_1_url =
gfd_data_1_name =
show_gfd_excel = Y