HK dollar to US dollar is the exchange rate from Hong Kong dollar to the United States dollar is the exchange rate set between two countries of the rate of exchange.
History of Hong Kong Dollar
The Hong Kong dollar, pegged to the US dollar since 1983, therefore, the HKD is a strong currency. Apart from this point, HK currency is more stable because of supported by its property, land, such as land and products. In the past 25-30 years period, the HK dollar fluctuated within the 5% range of the pegged value, so people wouldn’t worry about the currency devaluation situation.
Hong Kong is the most strong financial center in East Asia, with the HK dollar pegged to the US dollar, many people ask questions about why the HK dollar is pegged to the US dollar.
Here is the reasons, for finding stability USD is the currently rising and stable.
therefore, it’s quite strong. The current exchange rate of 1 US$ =7.85 HK$ that rate has been consistent for a long time now, so people keep money in H.K.D. because it may not devaluate, it’s risk-free.
Relation with China and Hong Kong currency
Based on an investment basis HK is very small compared to the Chinese market, but the HK stock market is still very big and makes a tremendous amount of money to the investors. The main point that must be mentioned here is Hong Kong government take care of the locals first, they also give subsidies from time to time while people and business are in difficulties. HK dollar to US dollar has been tied for a long time now.
The food, you find in Hong Kong is very good and available to all walks of life from very basic Fast food to luxury expensive eat, and find it very easily everywhere. You only use the Hong Kong Dollar in Hong Kong SAR, no other currency works unless you exchange it. In advance, you exchange and keep it for yourself.
China’s RMB is fluctuating much because they have a big business. If it is strengthening business opportunity is less; export business drops because the Chinese product becomes more expensive and world stop buying from them; the Government in some scenario want to make weaker against American currency to make more business worldwide. In this way pegging USD HKD, the currency so far more stable and consistently performing well, people are keeping more money in HKD.
While Traveling Hong Kong
If you are traveling to Hong Kong always keep or exchange local currency, no other money will work here. However, you better exchange at Hong Kong international Airport, or money exchange which is available in many places in Hong Kong especially shopping malls, and business hubs like Tsim Tsa Tsui, Jofordan, Yau MaTei, Central, Wanchai, Causeway Bay, etc. HK dollar to US dollar exchange is consistent for many years now so people trust to Hong Kong Dollar.
