De facto currency April 2009. Both South African rand and Botswana pula circulate in Zimbabwe. The small French island of St. Pierre and Miquelon has the Canadian dollar as its de facto currency. Hong Kong Dollar is widely accepted in Macau, even though it hasn't gained any official recognition from Autoridade Monetária de Macau (AMCM) as legal tender in Macau. Currently, Macauese Pacata is pegged to Hong Kong Dollar at 1.029(buy)/1.032(sell). However, many merchants who accept Hong Kong Dollars may now offer to pay the difference between 2 currencies, such practice is often called '不补水' in Chinese. If merchandise priced in Patacas is
Currency basket of currencies (and assets held). In most cases, a central bank has a monopoly right to issue of coins and banknotes (fiat money) for its own area of circulation (a country or group of countries); it regulates the production of currency by banks (credit) through monetary policy. An exchange rate is the price at which two currencies can be exchanged against each other. This is used for trade between the two currency zones. Exchange rates can be classified as either floating or fixed. In the former, day-to-day movements in exchange rates are determined by the market; in the latter,