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Hong Kong Dollar

The basic unit of currency is the Hong Kong dollar (HK$), which is divided into 100 cents. “$” is the dollar sign in Hong Kong.

Photo source: wikipedia info

Three banks, the Hongkong and Shanghai Banking Corporation (HSBC), the Bank of China, and the Standard Chartered Bank, are authorized to issue their own colorful notes, in denominations of HK$10, HK$20, HK$50, HK$100, HK$500, and HK$1,000. As for coins, they’re only issued by the government in bronze for HK10¢, HK20¢, and HK50¢ pieces; in silver for HK$1, HK$2, and HK$5; and in nickel and bronze for HK$10.

Region of using Hong Kong dollar

The Hong Kong dollar is only legal currency in Hong Kong. It can also be used almost everywhere in Macau, alongside the Macau Pataca, although at shops and restaurants you’ll receive an unfavourable 1:1 exchange rate. The Hong Kong dollar cannot be used in Mainland China, and while shops in Shenzhen were previously happy to take the dollar, since the currency shift, this is no longer the case. The exchange rate is HKD 1 : RMB 0.87

Exchange Money

When changing money banking can provide the best exchange rate. However, the exchange rate and commission fee are varied among banks, which relies upon the amount of the exchange and whether you’re using traveler’s checks. For the commission of the check, it is that range from HK $ 40 to HK $ 60 (Wing Lung Bank and Heng Seng Bank offer comparatively lower commission rate). Exchanging foreign cash in banks may well not charge percentage, but the exchange-rate is unfavourable. Hotels give Money changers to a marginally less favorable exchange rate are found within the tourist areas, especially along Nathan Road in Tsim Sha Tsui. If you can prevent them. They generally charge a percentage or a “switching fee,” or give a substantially lower rate. Switch only what you really should get into town – – US $ 50 or GBP25 should be enough, as the exchange rate is also, high, in case you exchange money at Hong-kong International Airport.

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