The Hong Kong Dollar (HKD) is the official currency of Hong Kong, a Special Administrative Region (SAR) under the sovereignty of China. The currency is issued and regulated by the Hong Kong Monetary Authority (HKMA).
The Hong Kong Dollar is subdivided into 100 cents, and its symbol is $. The currency's ISO code is HKD. It is widely used across Hong Kong for both domestic and international transactions.
The value of the Hong Kong Dollar is determined through a linked exchange rate system. Under this system, the currency is pegged to the United States Dollar (USD) within a pre-defined range of 7.75 to 7.85 HKD per USD. This arrangement ensures stability and promotes confidence in the Hong Kong economy.
The Hong Kong Dollar is available in various denominations, including banknotes and coins. Banknotes are issued in denominations of $10, $20, $50, $100, $500, and $1,000. Coins are available in 10 cents, 20 cents, 50 cents, $1, $2, $5, and $10.
The Hong Kong Dollar is widely accepted in Hong Kong, and it is also sometimes used in neighboring Macau, another SAR of China. However, it is not accepted as legal tender in mainland China, where the Chinese Yuan Renminbi (CNY) is the official currency.
Overall, the Hong Kong Dollar symbolizes the economic and financial stability of Hong Kong and plays a crucial role in facilitating trade, investments, and financial transactions both domestically and internationally.
