The Hong Kong dollar (, sign: HK;code:HKD)istheofficialcurrencyoftheHongKongSpecialAdministrativeRegion.Itissubdividedinto100centsor1000mils.TheHongKongMonetaryAuthorityisthemonetaryauthorityofHongKongandtheHongKongdollar.ThreecommercialbanksarelicensedbytheHongKongMonetaryAuthoritytoissuetheirownbanknotesforgeneralcirculationinHongKong.Thesebanks,HSBC,BankofChina,andStandardChartered,issuetheirowndesignsofbanknotesindenominationsofHK20, HK50,HK100, HK150,HK500, and HK1000,withalldesignsbeingsimilartooneanotherinthesamedenominationofbanknote.However,theHK10 banknote and all coins are issued by the Government of Hong Kong.
As of April 2019, the Hong Kong dollar was the ninth most traded currency in the world. Hong Kong uses a linked exchange rate system, trading since May 2005 in the range US1:HK7.75–7.85. United States dollar wins against the Hong Kong dollar when it trades at HK7.75perU.S.dollar.HongKongdollarwinsagainsttheU.S.dollarwhenittradesatHK 7.85 per U.S. dollar.
Apart from its use in Hong Kong, the Hong Kong dollar is also used in neighbouring Macau. It is pegged at 1 Hong Kong dollar to 1.03 Macanese patacas, and is generally accepted at par or MOP 1.00 for retail purchases.
When Hong Kong was established as a free trading port in 1841, there was no local currency in everyday circulation. Foreign currencies such as Indian rupees, Spanish or Mexican 8 reales, and Chinese cash coins circulated. Since 1825, it had been the policy of the British government to introduce sterling silver coinage to all of its colonies, and to this end, in 1845 the Spanish or Mexican 8 reales coins were set at a legal tender value of 4 shillings, 2 pence sterling (50 pence).
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The piso, often called the peso in English (Philippine English: ˈpɛsɔː , ˈpiː- , plural pesos; piso ˈpiso, pɪˈso; sign: ₱; code: PHP), is the official currency of the Philippines. It is subdivided into 100 sentimo, also called centavos. The peso has the symbol "₱", introduced during American rule in place of the original peso sign "$" used throughout Spanish America. Alternative symbols used are "PHP", "PhP", "Php", or just "P". The monetary policy of the Philippines is conducted by the Bangko Sentral ng Pilipinas (BSP), established on July 3, 1993, as its central bank.
The United States dollar (symbol: ;currencycode:USD;alsoabbreviatedUS to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S.
The Hong Kong dollar (, sign: HK$; code: HKD) is the official currency of the Hong Kong Special Administrative Region. It is subdivided into 100 cents or 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong and the Hong Kong dollar. Three commercial banks are licensed by the Hong Kong Monetary Authority to issue their own banknotes for general circulation in Hong Kong.
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