HONG KONG

(HKD) Currency News >>

CURRENCY:

Hong Kong Dollar - HKD, Symbol HK$

DENOMINATIONS:

NOTE: HK$1,000, 500, 100, 50, 20 and 10.

COIN: HK$10, 5, 2 and 1, and 50, 20 and 10 cents.

US DOLLAR ACCEPTED?

N/A

CREDIT/DEBIT CARDS AND ATMS:

Most major credit cards are accepted, and ATM machines are widely available.

CURRENCY EXCHANGE:

Foreign exchange services are available at banks, bureaux de change and hotels. For the best exchange rates it's best to go to banks.

TRAVELLER'S CHEQUES:

These enjoy wide acceptance in Hong Kong. Best in Sterling, US dollars or Euros.

BANKING HOURS:

Mon-Fri 0900-1630 Saturday mornings. Note that some banking hours vary so check if unsure.

CURRENCY RESTRICTIONS:

No restrictions.

COUNTRY OVERVIEW:

Hong Kong's full name is the rather sizeable: Hong Kong Special Administrative Region. It is essentially a territory because, despite belonging to the People's Republic of China, it is not considered part of the mainland. It has its own currency and legal system, and has its own politics. It was once a dependent territory of the UK but its sovereignty was handed back to China in 1997.

POPULATION:

7,008,900

ECONOMY:

Hong Kong is well known as one of the world's leading financial capitals, and has a highly developed economy, which is capitalist. The official languages are both Chinese and English. The financial industry here works under an official policy called 'positive non-interventionism' which means allowing the market forces and private sectors to lead the direction in which the economy goes. The private sector dominates the Hong Kong economy. Interestingly, because of its lack of natural resources, Hong Kong relies on import for food and raw materials. Exports are mostly 're-exports' - goods that are made or manufactured in places like China then distributed from Hong Kong. Hong Kong is useful to China for its position as welcoming foreign investment which then can flow to the mainland.