Under the "One Country, Two Systems" principle, Macau and Hong Kong do not presently use the Chinese Yuan. Macau uses the Macanese Pataca which is pegged to the Hong Kong Dollar at a fixed exchange rate of $1HKD = $1.03MOP, while Hong Kong uses the Hong Kong Dollar which is pegged to the US Dollar at a fixed exchange rate of $1USD = $7.80HKD. The Chinese Yuan, used in Mainland China, is pegged to an unspecified basket of currencies, and is used as a reserve currency by the IMF.