Hong Kong Dollar
Hong Kong Dollar Rates
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Latest Hong Kong Dollar Exchange Rate News
Please see our news section for the latest currency news affecting worldwide exchange rates. You can also visit our dedicated page on Hong Kong Money Transfers, including timescales and information needed to make your transfer.
Overview - HKD
The Honk Kong Dollar is the currency used in Honk Kong and its ISO code is HKD. It is pegged to the US Dollar at a rate of 7.80. It is allowed a certain amount of movement within the range of 7.75-7.85 to enable the narrowing of the gap between the interest rates in Hong Kong and the USA and also to avoid the HKD being used for speculative bets on the Renminbi revaluation.
A Hong Kong Dollar cannot be issued without the issuing bank being in possession of an equivalent value in US Dollars and as such Hong Kong has one of the worlds largest reserves of US Dollars – around $282 Billion as of October 2011.
As a result of the peg the Hong Kong Dollar is subject to market effects in the same way as the US Dollar.