Hong Kong Dollar (HKD) Exchange Rates Today
Live rates, 30-day trends, and real talk about what banks charge you for Hong Kong Dollar.
Mid-market rate - no bank markup 200+ currencies Free
What is the Hong Kong Dollar?
Pegged to the US Dollar within a narrow band of 7.75-7.85 since 1983. This linked exchange rate system means HKD moves very little against USD.
Symbol: HK$ ISO code: HKD Central bank: Hong Kong Monetary Authority (HKMA)
BIS ranking: 9th most traded (the 9th most bought and sold currency worldwide) Used in: Hong Kong SAR
This page is a hub for all HKD exchange rates on our site. Use the converter above to check the current mid-market rate for Hong Kong Dollar against any supported currency, or scroll down to browse individual pair pages with 30-day charts, historical data, and conversion tables.
How the Hong Kong Dollar exchange rate works
Hard peg to the US Dollar
The Hong Kong Dollar has been pegged to the US Dollar since 1983 under the Linked Exchange Rate System maintained by the Hong Kong Monetary Authority. The permitted band is HK$7.75 to HK$7.85 per USD.
What this means for you: If you are converting to or from HKD, timing barely matters against USD - the rate moves by fractions of a percent. Against other currencies, HKD effectively tracks USD, so a EUR/HKD chart looks almost identical to EUR/USD.
How Hong Kong Dollar is commonly exchanged
The Hong Kong Dollar is pegged to the US Dollar within a narrow band of 7.75-7.85, maintained since 1983. This means USD/HKD barely moves. For other currencies, converting to HKD is effectively the same as converting to USD. The peg is backed by Hong Kong's substantial foreign reserves.
Most HKD conversions pass through one of the major pairs listed below. For less common combinations, rates are computed as cross-rates through USD or EUR, which may carry a slightly wider spread.
Practical notes for Hong Kong Dollar
Travel and card conversions
If you are spending in Hong Kong Dollar, a card with no foreign transaction fee is typically the best option. Always choose to be charged in HKD (the local currency) at point of sale - selecting your home currency triggers Dynamic Currency Conversion, which adds an unnecessary 3-6% markup to your transaction.
Pegged currency
HKD is pegged to USD, so the exchange rate stays within a very narrow band. This means there is little timing advantage to waiting for a "better" rate - the rate you see today will be very close to the rate next week. Your main variable is the provider's markup, not the market rate.
Local tip
In Hong Kong, money changers in Tsim Sha Tsui and Central offer far better HKD rates than airport counters. Compare 2-3 before exchanging.
The Hong Kong Monetary Authority (HKMA) and the Hong Kong Dollar
The Hong Kong Monetary Authority (HKMA) maintains the Linked Exchange Rate System, pegging HKD to USD at 7.75-7.85.
Policy tool: The HKMA does not set independent interest rates. Hong Kong rates follow US rates due to the peg. The HKMA intervenes directly when HKD approaches the band edges.
Key data releases: HKMA intervention announcements and aggregate balance data (indicating system liquidity).
Moments that shaped the Hong Kong Dollar
Linked Exchange Rate System (1983)
During the Sino-British negotiations over Hong Kong's future, confidence in HKD collapsed and the currency fell from 5.13 to 9.60 per USD. On 17 October 1983, the government pegged HKD to USD at 7.80. This peg, later refined to a 7.75-7.85 band, has survived the Asian Financial Crisis, SARS, and the 2019-20 political upheaval.
Did you know?
- The Hong Kong Dollar is one of the most traded currencies in the world despite Hong Kong's small geographic size - a testament to the city's role as a global financial hub.
- Hong Kong is one of the few places where banknotes are issued by private commercial banks, not a central bank.
Frequently asked questions
Is the Hong Kong Dollar strong or weak right now?
The Hong Kong Dollar's strength is best understood through its peg to the US Dollar, which the Hong Kong Monetary Authority has maintained since 1983. Rather than fluctuating freely, the HKD trades within a narrow band against the USD, so 'strength' is relative to other currencies that move against the dollar itself.
To see how the HKD compares to other major currencies, use the converter above or check the pair pages below to view recent rate movements.
What factors affect the Hong Kong Dollar exchange rate?
Because the HKMA pegs the HKD to the US Dollar within a fixed range, Hong Kong Dollar rates against other currencies are primarily driven by US monetary policy and dollar strength rather than Hong Kong-specific factors. Interest rate decisions by the Federal Reserve and the US economic outlook have outsized influence on the HKD's movement against the euro, pound, yen, and other currencies.
Hong Kong's own economy - its role as a major financial hub, trade flows with China, and local property markets - indirectly affects the dollar's global performance but does not directly move the peg itself.
What is the outlook for the Hong Kong Dollar?
The Hong Kong Dollar's outlook depends almost entirely on US Dollar movements, since the HKMA's peg constrains the HKD to track the dollar within a narrow band. Factors to watch include Federal Reserve interest rate policy, US inflation data, and the strength of the broader US economy, all of which drive dollar demand globally.
Check the rate statistics and charts on this page to monitor how the HKD has tracked recent dollar trends and to form your own view on future dollar direction.
Is the Hong Kong Dollar widely used internationally?
The Hong Kong Dollar is primarily used within Hong Kong and is not a major international reserve currency or global payment medium. It functions as a regional currency important for Hong Kong's role as a financial center and for trade with mainland China, but most international transactions and central bank reserves use the US Dollar, euro, or other major currencies.
For international payments or currency exchanges, the HKD typically converts through a pair page showing its rate against your destination currency.
How do I compare HKD rates across providers?
Exchange rates for the Hong Kong Dollar vary slightly between banks, money transfer services, and currency dealers due to different spreads and operating costs. Use the converter above to see multiple provider rates side by side for the same amount and destination currency.
The pair pages below show historical rate data and trends, helping you identify whether rates are favourable compared to recent history before committing to an exchange.
How has the Hong Kong Dollar performed historically?
The Hong Kong Dollar has been pegged to the US Dollar since 1983, which means its historical performance against other currencies mirrors the dollar's strength over that 40-year period. During times when the dollar strengthened globally, the HKD strengthened proportionally; when the dollar weakened, so did the HKD.
This peg has provided stability within Hong Kong's economy and made the currency predictable for international traders, though it removes the HKD's independence in responding to local economic conditions.
How volatile is the Hong Kong Dollar?
The Hong Kong Dollar is one of the least volatile major currencies because the HKMA's peg to the US Dollar constrains its movement to a narrow band. Against the US Dollar, the HKD rarely moves beyond a fixed range and does not fluctuate based on market forces the way freely floating currencies do.
Against other currencies like the euro, pound, or yen, HKD volatility mirrors US Dollar volatility, meaning it moves when the dollar moves but within controlled limits set by the peg mechanism.
What is the best way to exchange Hong Kong Dollar?
The best way to exchange Hong Kong Dollars depends on your volume, urgency, and destination. Banks offer convenience but typically charge higher spreads; specialist currency providers and money transfer services often offer better rates for larger amounts; and ATMs in Hong Kong provide competitive rates for cash withdrawals if you're travelling.
Compare rates across providers using the converter above, and factor in fees or minimum transfer amounts before deciding which method suits your needs.
Why does HKD barely move against the US Dollar?
The Hong Kong Monetary Authority maintains a currency peg that fixes the Hong Kong Dollar within a narrow band against the US Dollar, typically trading in a range announced by the HKMA. This peg is a deliberate policy choice designed to provide stability for Hong Kong's economy and financial system by linking the local currency to a major global reserve currency.
The HKMA uses its substantial foreign exchange reserves and open market operations to defend the peg, preventing the HKD from freely floating and instead keeping it anchored to the dollar.
Why is HKD so strong?
The Hong Kong Dollar's strength is a result of the HKMA's peg to the US Dollar since 1983 and Hong Kong's role as a major international financial center with large foreign exchange reserves. Hong Kong's economy is heavily dependent on finance, trade, and services, and the currency's stability attracts investors and businesses to operate from the territory.
The strength of the HKD is ultimately tied to the strength of the US Dollar and Hong Kong's status as a trusted financial hub; check the rate statistics and pair pages to see how current HKD rates compare historically.
Which card is free for international transactions?
This page is about the Hong Kong Dollar currency itself, not about specific credit cards or financial products. For information on international transaction fees and card benefits, contact your bank or card issuer directly.
When you do exchange Hong Kong Dollars, use the converter above to compare rates across different providers and methods.
What does a reserve currency do?
A reserve currency is money that central banks and governments hold in large quantities to back their own currencies, settle international debts, and conduct foreign trade. Reserve currencies must be stable, widely accepted, and backed by a large, strong economy; the US Dollar, euro, and British pound are the primary examples globally.
The Hong Kong Dollar is not a reserve currency - instead, Hong Kong holds US Dollars and other major currencies in reserve to support the HKD peg and maintain financial stability.
Learn more
- HKMA - Linked Exchange Rate System - How Hong Kong's currency peg to the US dollar works
- Census and Statistics Department Hong Kong - HK economic data including trade and CPI
Hong Kong Dollar volatility profile
The Hong Kong dollar shows minimal volatility against the US dollar due to its currency board peg (7.75-7.85 HKD per USD), maintained since 1983. Against other currencies, HKD effectively mirrors USD movements.
Live volatility score updates when market data is available.
Cost to convert Hong Kong Dollar
Banks typically mark up HKD conversions by 3-5%. Specialist transfer providers offer rates much closer to the mid-market rate shown above, potentially saving you $30-55 on every 1,000 HKD you convert.
| Provider | Typical fee | You receive |
|---|---|---|
| Wise | Mid-market rate + ~0.5% fee | — |
| Revolut | Mid-market rate, free up to monthly limit | — |
| OFX | No fixed fees, ~0.4% spread | — |
| Typical bank | 3-5% markup + fixed fee | — |
Based on sending 1,000 HKD to US Dollar. Costs include spread markup and fees. See full HKD to USD comparison →
Compare Hong Kong Dollar with similar currencies
Hong Kong Dollar belongs to the following currency characteristic groups. Currencies within each group often move in correlated patterns.
Pegged and managed currencies
Central banks actively control these exchange rates through pegs, bands, or frequent intervention. Day-to-day volatility is lower, but structural adjustments can be sudden.
Asian trade bloc
Major Asian trading currencies linked by regional supply chains and trade flows. Movements in one often ripple through the others.
HKD rate statistics
Hong Kong Dollar rate context
We compare the current Hong Kong Dollar exchange rate against its recent trading range to help you decide whether now is a good time to convert. The live analysis updates throughout market hours.
Rate analysis updates when live data is available.
Forex Market Hours
The forex market is open 24 hours a day, five days a week. Trading passes between these major financial centers as the world turns.
| Market | Timezone | Local Time | Status |
|---|---|---|---|
| 🇦🇺 Sydney | AEST | — | — |
| 🇯🇵 Tokyo | JST | — | — |
| 🇬🇧 London | GMT/BST | — | — |
| 🇺🇸 New York | ET | — | — |
All HKD Currency Pairs
Live exchange rate pages for Hong Kong Dollar against every supported currency.