HKD (Hong Kong Dollars)

AAA

DEFINITION of 'HKD (Hong Kong Dollars)'

The currency abbreviation or currency symbol for the Hong Kong dollar (HKD), the currency for Hong Kong. The Hong Kong dollar is made up of 100 cents and if often presented with the symbol $ or HK$. Three Chinese note-issuing banks are authorized to issue Hong Kong dollars, subject to conditions laid out by the Hong Kong government. Banknotes then run through a government exchange fund which holds the U.S. dollars in reserves and records all transactions in the general accounts of the two currencies.

INVESTOPEDIA EXPLAINS 'HKD (Hong Kong Dollars)'

The Hong Kong dollar was first seen as a distinct currency in 1863. Before then, various foreign currencies had been used, and continued to be used even after its inception. The HK dollar was outlawed by the Japanese puppet government in 1943 and reinstated in 1945 after the war. Hong Kong is now in sole control of the printing and administration of its currency.

RELATED TERMS
  1. Vietnamese Hao

    A Vietnamese currency previously issued by the Vietnam National ...
  2. Authorized Forex Dealer

    Any type of financial institution that has received authorization ...
  3. Currency

    A generally accepted form of money, including coins and paper ...
  4. Forex - FX

    The market in which currencies are traded. The forex market is ...
  5. Quote Currency

    The second currency quoted in a currency pair in forex. In a ...
  6. Base Currency

    The first currency quoted in a currency pair on forex. It is ...
Related Articles
  1. A Primer On The Forex Market
    Options & Futures

    A Primer On The Forex Market

  2. Currency Exchange: Floating Rate Vs. ...
    Forex Education

    Currency Exchange: Floating Rate Vs. ...

  3. The Hong Kong Dollar: What Every Forex ...
    Forex Education

    The Hong Kong Dollar: What Every Forex ...

  4. Top 7 Questions About Currency Trading ...
    Forex Education

    Top 7 Questions About Currency Trading ...

comments powered by Disqus
Hot Definitions
  1. Passive ETF

    One of two types of exchange-traded funds (ETFs) available for investors. Passive ETFs are index funds that track a specific ...
  2. Walras' Law

    An economics law that suggests that the existence of excess supply in one market must be matched by excess demand in another ...
  3. Market Segmentation

    A marketing term referring to the aggregating of prospective buyers into groups (segments) that have common needs and will ...
  4. Effective Annual Interest Rate

    An investment's annual rate of interest when compounding occurs more often than once a year. Calculated as the following: ...
  5. Debit Spread

    Two options with different market prices that an investor trades on the same underlying security. The higher priced option ...
  6. Odious Debt

    Money borrowed by one country from another country and then misappropriated by national rulers. A nation's debt becomes odious ...
Trading Center