Hongkong-Dollar

1 EUR = 10.628 HKD 100 HKD = 9.409 EUR

1 CHF = 8.687 HKD 100 HKD = 11.512 CHF

The Hong Kong dollar is the currency of the Chinese special administrative region of Hong Kong. In addition, he is also in the Macao Special Administrative Region and some parts of the People's Republic of China, especially in Guangdong Province, accepted for payment. Since 1983 it is coupled to a fixed exchange rate to the U.S. dollar. The ISO code for the Hong Kong dollar is HKD.

Monetary policy authority

Hong Kong reserves, according to the Basic Law and the Sino -British joint declaration of sovereignty over monetary matters. This is exercised by the Hong Kong Monetary Authority ( HKMA ). The HKMA will ensure that Hong Kong's entire monetary base is backed by U.S. dollar reserves. For this purpose, the HKMA via one of the three largest foreign exchange reserves in the world.

The HKMA 's notes, however, not even out, but granted the right to three different banks in Hong Kong. These banks are:

• Bank of China (Hong Kong)
• Standard Chartered Bank
• HSBC

Banks may only issue new dollar bills if the corresponding value is in U.S. dollars of their contributions. Each of these banks will issue bills of the denomination of 20, 50, 100, 500 and 1,000 HKD to predefined basic colors and dimensions, but these banks are free to structure the design of banknotes. Even before the official handover of the former crown colony of Great Britain to China in 1997 were banknotes and coins that showed the image of Queen Elizabeth II, slowly taken out of circulation. Today, most banknotes and coins of Hong Kong show, among other things Bauhinien flower of the species Bauhinia blakeana.

In addition to the banks were and are the Government of the former crown colony and today's special administrative region also notes out, however, have small denominations. The first bill to $ 1 was released 1935. Nowadays, a 10 -HKD bank note issued by the Government of the Special Administrative Region.

Monetary System

Between 1863-1935 the used in Hong Kong silver dollar was legal tender. The domestic currency was between December 1935 to November 1967 at a price of 16 HKD: 1 GBP bound to the pound sterling. From November 1967 to June 1972, the fixed exchange rate stood at 14.55 HKD per pound.

In July 1972, the Hong Kong dollar was first coupled tightly to the U.S. dollar. The initial parity of 5.65 HKD per USD was adjusted in February 1973 at 5.085 HKD per USD. The exchange rate was released in November 1974, but fixed again in October 1983. Since the Hong Kong dollar is pegged at an exchange rate of 7.80 HKD per U.S. dollar to the U.S. currency, the HKD upgrade, but was not allowed to depreciate.

Since May 1, 2005, this coupling has now been relaxed and the HKD allowed to fluctuate within a band around the value of 7.80 HKD per U.S. dollar, and there are no uncommitted values ​​that range.