Hong Kong's Currency
The Hong Kong dollar is the standard unit of currency and the bills comes in denominations of:
- HK$1,000
- HK$500
- HK$100
- HK$50
- $20
- $10
Plus HK$10, $5, $2 and $1 coins. The dollar is divided into 100 cents and there are coins of 50 cents, 20 cents and 10 cent denominations. The dollar rate fluctuates against major international currencies but it is pegged to the US dollar at approximately 7.8 Hong Kong dollars to the US dollar. This means that the currency is much more stable than most in the region.
There are three note-issuing banks in Hong Kong: Hong Kong Bank, Standard Chartered Bank and the Bank of China. Most high street banks will exchange foreign currency and generally display exchanged rates on digital boards. They usually offer better rates than the money-changers in the major tourist areas, although there's usually a $50 charge for a single transaction. Cash machines are plentiful in the urban areas and allow the withdrawal of local currency with most major credit cards.