Available Currency Pairs
Did You Know?
- The Hong Kong Monetary Authority (HKMA) is the institution responsible for maintaining the monetary stability and integrity of Hong Kong’s banking and financial system.
- Price setting method: the exchange rate is defined as fixed against the USD. Since 2005, the HKMA maintains the USD/HKD parity in a range 7.75/7.85. It intervenes punctually in the foreign exchange market when the spot price is too close to the fluctuation limits referred to in the previous sentence.
Features and highlights
- Although now an integral part of China, Hong Kong enjoys a large degree of autonomy, which is particularly reflected in financial and monetary terms.
For years, HKD was always trading close to its maximum limit at 7.75. However, since 2018, for several reasons it has moved closer to its lower boundary (higher in USD/HKD) around 7.85. In 2019, this was for a good part due to severe social unrest in Hong Kong.
- Due to the indexation of the HKD to the USD, the evolution of the EUR/HKD is almost perfectly correlated with that of the EUR/USD.
There are no special restrictions on the purchase and sale of HKD.
The IBAN format is not mandatory in Hong Kong. Payment instructions must contain:
- The BIC Code of the beneficiary bank
- The full name and the account number of the beneficiary.
Keep In Mind
When a holiday falls on a weekend, the next business day becomes a holiday