HKD (Hong Kong Dollars)
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 Definitions
Articles Of Interest
-
Currency Exchange: Floating Rate Vs. Fixed Rate
Baffled by exchange rates? Wonder why some currencies fluctuate while others are pegged? This article has the answers. -
The Hong Kong Dollar: What Every Forex Trader Needs To Know
Find out everything you need to know about the eighth most traded currency in forex. -
Top 7 Questions About Currency Trading Answered
Whether you're puzzled by pips or curious about carry trades, your queries are answered here. -
6 Factors That Influence Exchange Rates
Find out how a currency's relative value reflects a country's economic health and impacts your investment returns. -
Using Currency Correlations To Your Advantage
Knowing the relationships between pairs can help control risk exposure and maximize profits. -
A Primer On The Forex Market
Moving from equities to currencies requires you to adjust how you interpret quotes, margin, spreads and rollovers. -
The Yen Is Setting Up To Be An Attractive Long-Term Investment
As Japan embarks on quantitative easing, the yen has come under pressure. Will it continue to be the source of big profits in the latter half of 2013? -
3 Costly Spelling Errors
History has proved that some spelling errors can cost companies and governments millions of dollars. -
5 Best Countries For Starting And Owning A Small Business
Singapore, New Zealand and Denmark are just some of the most business-friendly countries in the world. -
Countries With The Best And Worst Investor Protection
Discover which countries do the most to protect the little guy from scheming executives and shady back-room deals.
Free Annual Reports