About the Hong Kong Dollar
The Hong Kong Dollar was established in 1863. Hong Kong has a unique system where banknotes are issued by three different commercial banks under the supervision of the Hong Kong Monetary Authority.
The name 'Dollar' comes from the Spanish and American dollars that were widely used in the region in the 19th century.
Interesting Facts
Issued by Three Banks
Hong Kong is one of the few places in the world where banknotes are issued by three different commercial banks (HSBC, Standard Chartered, and Bank of China), in addition to government-issued coins.
Linked Exchange Rate System
The Hong Kong Dollar has a currency board system, being tightly pegged to the U.S. Dollar in a narrow band around 7.8 HKD to 1 USD.
A Global Financial Hub
The Hong Kong Dollar is one of the most traded currencies in the world, reflecting Hong Kong's status as a premier international financial center.
Historical Timeline
The Hong Kong Dollar is established.
The currency is pegged to the Pound Sterling.
The peg is switched to the U.S. Dollar.
A linked exchange rate system is established, pegging the HKD to the USD at 7.8 to 1.
Denominations
Banknotes
Coins
Security Features
Quick Facts
- ISO Code
- HKD
- Symbol
- HK$
- Numeric Code
- 344
- Subunit
- Cent (1/100)
- Introduced
- 1863-01-01
Central Bank
- Name
- Hong Kong Monetary Authority
- Headquarters
- Central, Hong Kong
- Founded
- 1993
- Current Governor
- Eddie Yue (since 2019)
Economic Data
- Reserve Currency Share
- 2.3%
- Forex Volume Share
- 2.2%
- Inflation Rate
- 3.0%
- Interest Rate
- 5.75%
Exchange Rates
Used In
What Affects the HKD Exchange Rate?
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