1 USD to HKD US Dollars to Hong Kong Dollars Exchange Rate

When Hong Kong was established as a free trading port in 1841, there was no local currency in everyday circulation. Three commercial banks are licensed by the Hong Kong Monetary Authority to issue their own banknotes for general circulation in Hong Kong. These banks, HSBC, Bank of China, and Standard Chartered, issue their own designs of banknotes in denominations of HK$20, HK$50, HK$100, HK$150, HK$500, and HK$1000, with all designs being similar to one another in the same denomination of banknote. However, the HK$10 banknote and all coins are issued by the Government of Hong Kong.

In 1945, paper money production resumed essentially unaltered from before the war, with the government issuing 1 cent, 5 cents, 10 cents, and 1-dollar notes, and the three banks issuing 5, 10, 50, 100 and 500-dollar notes. 1-dollar notes were replaced by coins in 1960, with only the 1-cent note issued by the government after 1965. Financially, the currency peg was designed not to require the Bank of England to lend its reserves to maintain Hong Kong’s currency peg.

Denominations issued in the 1860s and 1870s included 1, 5, 10, 25, 50, 100 and 500 dollars. These notes were not accepted by the Treasury for payment of government dues and taxes, although they were accepted for use by merchants. 25 dollar notes did not survive beyond the end of the 19th century, whilst the 1-dollar notes (only produced by the HSBC) were issued until 1935. London eventually acquiesced and legislation was enacted in attempts to regulate the coinage.

HKD Hong Kong Dollar*

Since then, it has remained pegged to the dollar, with the HKMA adjusting its value from time to time. The Hong Kong dollar has been pegged to a narrow trading band, which currently ranges between HK$7.7500 and HK$7.8500 per USD. If, and when, the HKD hits either the upper or lower bound, the HKMA, which acts as the de facto central bank, intervenes to stabilize the currency. In 1975, the HK$5 notes were replaced by coins, whilst HK$1,000 notes were introduced in 1977. The Mercantile Bank was absorbed by the HSBC in 1978 and ceased issuing notes.

1. These currency charts use live mid-market rates, are easy to use, and are very reliable.
2. While only the HK$10 banknote is issued solely by Hong Kong Monetary Authority on behalf of the Government of Hong Kong, which in total makes up the banknote circulation arrangement to four different note issuers.
3. As a British colony, an attempt to standardize the currency system was made in 1825 by introducing Sterling coins.
4. In most countries of the world the issue of banknotes is handled exclusively by a single central bank or government.
5. Production of the 1-mil ended in 1866, whilst that of the half-dollar and 1-dollar ceased in 1868, with only the half-dollar (now with the denomination given as 50 cents) resuming production in 1890.

The HKD is used in both Hong Kong and the neighboring territory of Macau, whose currency, the pataca, is pegged to the Hong Kong dollar. As of today, coins in denominations of HK$10, HK$5, HK$2, HK$1, 50 cents, 20 cents and 10 cents are issued by the Hong Kong Monetary Authority on behalf of the Government of Hong Kong. The HKD is the ninth most traded currency, and because it is pegged to the U.S. dollar, fxchoice review with upper and lower limits, it does not exhibit any strong unique correlations with other currencies. The Hong Kong dollar was first seen as a distinct currency in 1863. Before then, various foreign currencies had been used and continued to be used even after the HKD’s inception. The Hong Kong dollar was outlawed by the Japanese puppet government in 1943 and reinstated in 1945 after World War II.

Hong Kong Dollar Exchange Rate

These are the average exchange rates of these two currencies for the last 30 and 90 days. The Hong Kong dollar is made up of 100 cents and is often shown with the HK$ prefix to differentiate it from other dollar-denominated currencies. Hong Kong is a leading global financial center and its economy is considered to be the freest in the world. As of 18 May 2005, in addition forex broker rating to the lower guaranteed limit, a new upper guaranteed limit was set for the Hong Kong dollar at HK$7.75 to the US dollar. The lower limit has been lowered from 7.80 to 7.85 (by 100 pips per week from 23 May to 20 June 2005).[23] The Hong Kong Monetary Authority indicated this move is to narrow the gap between the interest rates in Hong Kong and those of the United States.

The linked exchange rate system is designed to stabilize the exchange rate between the Hong Kong dollar (HKD) and the United States dollar (USD). The fixed exchange rate system seeks to maintain parity with the USD within a tight range, allowing HKD note-issuing banks to issue new banknotes only when they deposit an equivalent value of U.S. dollars with the authority. By 1935, Hong Kong was the only country left on the silver standard. During Japanese occupation the Dollar was temporarily suspended, replaced by the Japanese Military Yen. In 1945, the Hong Kong was re-issued, pegged to the British Pound at a rate of 16 HKD to 1 GBP. In 1972, the Hong Kong Dollar re-pegged to the US Dollar, with the rate changing multiple times over the next few decades.

In 1985, HK$20 notes were introduced, whilst, in 1993, HK$10 coins were introduced and the banks stopped issuing HK$10 notes. In 1994 the HKMA gave authority to the Bank of China to issue notes. In 1934, the last 1-cent coins were issued, but the last minting was 1941. These were not issued because the Japanese sank a ship carrying 1-cent coins bound for Hong Kong in the Second World War. The following year (1935), cupro-nickel 5 and 10 cents were introduced, replaced by nickel in 1937 and nickel-brass between 1948 and 1949. Copper-nickel 50 cents were issued in 1951 and first bore the name „fifty cents“ in both Chinese and English, but these were changed to nickel-brass in 1977.

Hong Kong was a dependent territory of the United Kingdom from 1842 until the transfer of its sovereignty to the People’s Republic of China in 1997. The HKMA holds one of the world’s largest currency reserves in relation to its economy. In British Weihaiwei, the Hong Kong dollar circulated jointly with the Chinese yuan from 1914 to 1930, when Weihaiwei was returned to the Republic of China. The Xe Rate Alerts will let you know when the rate you need is triggered on your selected currency pairs.

HKD to USD Chart

All older HK$10 banknotes, although rare and being phased out, remain legal tender. In 1960, cupro-nickel 1-dollar coins were introduced, these were then reduced in size in 1978. They were followed in 1975 by nickel-brass 20 cents and cupro-nickel 2-dollar coin (both scallop shaped), and in 1976 by decagonal, cupro-nickel 5-dollar coin, changed to a round thicker shape in 1980. In 1863, 1-mil (1⁄10-cent), 1-cent and 10-cent coins were introduced, followed in 1866 by 5-cent and 20-cents, half-dollar and 1-dollar.

A further aim of allowing the Hong Kong dollar to trade in a range is to avoid the HK dollar being used as a proxy for speculative bets on a renminbi revaluation. Check live rates, send money securely, set rate alerts, receive notifications and more. These percentages show how much the exchange rate has fluctuated over the last 30 and 90-day periods. This trading band versus the USD has been in place since 1983, although the upper and lower limits have been adjusted periodically. The HKMA has about $450 billion+ USD in foreign reserves to thwart any attempts to break the peg with the USD. One notable attempt was made by legendary hedge fund manager George Soros in 1998.

Below, you’ll find Hong Kong Dollar rates and a currency converter. The U.S. dollar is the currency most used in international transactions. Several countries use the U.S. dollar as their alpari broker review official currency, and many others allow it to be used in a de facto capacity. In 1873, the international silver crisis resulted in a devaluation of silver against gold-based currencies.

Create a chart for any currency pair in the world to see their currency history. These currency charts use live mid-market rates, are easy to use, and are very reliable. These are the lowest points the exchange rate has been at in the last 30 and 90-day periods. These are the highest points the exchange rate has been at in the last 30 and 90-day periods.

Title:HKD-SHO: A hybrid smart home system based on knowledge-based and data-driven services

Hong Kong is now in sole control of the printing and administration of its currency, which is controlled by the Hong Kong Monetary Authority (HKMA). In early 1997, to commemorate Hong Kong’s transfer of sovereignty from Britain to the PRC, the government issued a new commemorative coin set which depicted Chinese cultural themes and Hong Kong’s landmarks and 19 and 97, marking the year 1997, on each side of the designs. Our currency rankings show that the most popular US Dollar exchange rate is the USD to USD rate.

The issue of Hong Kong dollar notes is governed today by the Hong Kong Monetary Authority (HKMA), the governmental currency board of Hong Kong. Under licence from the HKMA, three commercial banks issue their own banknotes for general circulation in the region. They are Hongkong and Shanghai Banking Corporation Limited; the Bank of China (Hong Kong) Limited; and the Standard Chartered Bank (Hong Kong) Limited. In most countries of the world the issue of banknotes is handled exclusively by a single central bank or government. The arrangements in Hong Kong are unusual but not unique; a comparable system is used in the United Kingdom, where seven banks issue banknotes. One of the key roles of the HKMA is maintaining currency stability.

During the 19th century, Hong Kong used a variety of foreign currencies such as Indian Rupees, Spanish Dollars, Mexican Pesos, and Chinese coins for daily transactions. As a British colony, an attempt to standardize the currency system was made in 1825 by introducing Sterling coins. This currency, however, proved to be unpopular and foreign coins continued to circulate. Commemorative banknotes have also been issued celebrating the note-issuing banks‘ anniversaries as well as the Olympic Games held in Beijing in 2008 and 2022. Our currency rankings show that the most popular Hong Kong Dollar exchange rate is the HKD to USD rate. The currency code for Dollars is HKD, and the currency symbol is $.