Currency Rates for Hong Kong Dollar
Bank Exchange Rates for Hong Kong - HKD - Hong Kong Dollar - HK$. The foreign exchange rates for Hong Kong also known as the ISO code HKD or the Hong Kong Dollar currency and as a symbol HK$.
Coins are in circulation in the denominations of 10, 20 and 50 Cent, as well as 1, 2, 3, 5, and 10 dollars. Banknotes are available in denominations of 10, 20, 50, 100, 150, 500 and 1,000 dollars, although $150 notes are limited in circulation.
The Hong Kong Dollar as a currency was conceived in the year 1935. The government introduced and acknowledged the one dollar notes as a local monetary unit in 1935 itself. In 1939, the currency was put against a fixed peg against the British pound-sterling of 16 HKD = £1. However, during World War II, the HKD was replaced by the currency Yen. After the Great War ended in 1945, it was again made the official currency.
In the year 1967, the pegging rates with the pound sterling was changed. From the year 1972 to the year 1983 the currency was floated with respect to US$. The currency of HKD was finally put at an exchange rate with respect to the US$ in the year 1983 at;US$1 = HK$7.8;. The symbol of the currency is HK$ with the;ISO code HKD
Hong Kong has complete responsibility, autonomy and control for HKD currency issuance. The currency can be issued only by the following entities 1. The government 2. Bank of China 2. 3. HSBC 4. Standard Chartered. The issuance of HKD is supervised by the HKMA. There are some restrictions on issuance of HKD this can only be done if the bank has an equivalent amount of deposit in US dollars. HKPL is responsible for printing HKD banknotes;
The HKD is one of the highest traded currencies in the world. This currency is used in 1. Hong Kong 2. Macau. The banknotes are made of 100% cotton fibre which does not fluoresce under ultraviolet light. The coins are made of nickel and brass. Currently, the coins in circulation are of the denominations of 10, 20 and 50 cent and also 1, 2, 3, 5 and 10 dollars. The denomination of banknotes are of 10, 20, 50, 100, 150, 500 and 1,000 dollars. There is a limited circulation of HKD 150 also.
The complete monetary base of HKD is backed up with corresponding US$ at the exchange rate with which it is linked. The backing up resources, are kept in the exchange fund of Hong Kong. This also happens to be one of the worlds largest reserves.
GBP to HKD
The 13th most traded currency in the world, the Hong Kong dollar is used in both Hing Kong and Macau, due to the similarities in exchange rates and their physical proximity. Send Money Transfer to Hong Kong.
In spoken Cantonese, the transliteral version of the first syllable of the word ‘money’ is used to refer to the currency. Bank Exchange Rates for Hong Kong Dollar. The foreign exchange rates for Hong Kong also known as the ISO code HKD. Send money transfer online with us with the cheapest options.