What Currency Does Hong Kong Use? A Complete Guide to the Hong Kong Dollar
Hong Kong is a special administrative region (SAR) of China that has its own currency, which is called the Hong Kong Dollar.
Below, I’ll explain what Hong Kong’s currency is called, provide an overview and brief history, its names in both English and Chinese/Cantonese, and how it’s identified in local and international transactions (denominations, symbols, abbreviations).
What is Hong Kong’s Currency Called?
The Hong Kong Dollar is the official currency of Hong Kong.
It’s one of the most recognizable and widely used currencies in Asia thanks to Hong Kong’s venerated status as a global financial hub, one that connects both the East and West.
While Hong Kong is technically considered part of China, it does not use the same currency, which is the Chinese renminbi (RMB) – aka the Chinese yuan or CNY.
This is because Hong Kong is classified as a special administrative region (SAR), operating under a system that follows the ethos of ‘one country, two systems’.
This means that Hong Kong is treated as a separate jurisdiction, one that has its own executive branch, legal system, Constitution, immigration and tax policies, capitalist economy, and its own currency.
Pale Ale Travel Note: Keep in mind that since the return of Hong Kong to China in 1997, many believe the line between an autonomous Hong Kong and Mainland Chinese governance has quickly eroded.
Hong Kong Dollar In Chinese/Cantonese
The two official languages of Hong Kong are Cantonese (Chinese) and English – different from Mainland China and Taiwan, which both have Mandarin (Chinese) as their official language.
In Cantonese, the Hong Kong Dollar is called 港幣 (pronounced Góng Bái). In Mandarin, it’s pronounced Gǎng Bì. Simply put, 幣 (Bái) means ‘currency’ or ‘money’, while 港 (Góng) represents ‘Hong Kong’.
However, Cantonese is a colloquial language primarily using the less formal term 蚊 (mān), slang for ‘dollar’. It’s quite a funny term to describe money as it translates to ‘mosquito’. This would be more comparable to the United States’ use of ‘buck’ as slang for a dollar.
For example, if you purchase an iced tea or bottle of water at 7-Eleven and it costs 20 Hong Kong Dollars, you’ll typically hear the cashier say 二十蚊 (yi sahp mán), or ‘20 mosquitoes’.
There are other colloquial terms for $10, $100, $1,000, $10,000, and $1,000,000, such as ‘草’ (cou2) for $10 as it translates to grass – as up until 1994, $10 bills in Hong Kong were the color green (like grass).
However, mán (mosquito) really is the only one that is ubiquitously used when referring to money these days and is used for any amount, not just $1.
Pale Ale Travel Tip: Hong Kong is an extremely connected city transportation-wise. This is evident from the second you land at Hong Kong International Airport. Make sure to check out my post explaining the best way to get from Hong Kong Airport to the city center so that you start your trip off right!
You might hear some of the other colloquial terms for larger denominations in TVB dramas or other television shows or in Guangdong Province in Mainland China.
Further, the general Cantonese term for money is 錢 (cin), so you may hear phrases like ‘冇錢 (móuh cín, “no money”) or 好多錢 (hóu dō cín, “a lot of money”).
Finally, you won’t see any of the above Chinese characters for ‘money’, the abbreviation ‘HKD’, or the currency’s symbol ‘HK$’ on menus in Hong Kong. Instead, prices will be written with or without the dollar amount.
For example, at my favorite Cantonese BBQ restaurant – Dragon State Kitchen – all prices on the menu are written with the dollar amount – $60. A large portion of Western or international restaurants in Hong Kong will typically omit the dollar sign ($), so a dish’s price would look like ‘60’.
Hong Kong Dollar In English
In English, the currency is universally known and referred to as the ‘Hong Kong Dollar’, which is abbreviated as HKD.
I can’t say in my nearly 7 years living in Hong Kong that I’ve ever heard any cashier, service worker, or even friend refer to it as ‘Hong Kong Dollars’. It’s just widely accepted that you’re talking about HKD when referring to amounts, so ‘dollar/dollars’ would be what you commonly hear used in English.
Additionally, the symbol HK$ is typically used in pricing and financial transactions (or writing), clearly distinguishing it from other dollar-based currencies in the world like the US Dollar (USD) and Australian Dollar (AUD).
The term ‘dollar’ was initially introduced during Hong Kong’s British colonial history and rule in alignment with other global dollar currencies.
Overview of Hong Kong’s Currency
As an autonomous region that sits at the junction between East and Wester – socially, politically, and financially – the Hong Kong Dollar has played a crucial role in the city’s economic identity and solidification as a global financial center, ranked only behind New York and London.
Historical Context of the Hong Kong Dollar
Before its inauguration as the official currency of Hong Kong in 1863, several coins and currencies from different countries were widely accepted for trade in the city, including Spanish dollars and Chinese silver taels.
The introduction of the Hong Kong Dollar by the British helped standardize the city’s monetary system and is cited as a significant step in the city’s carving out as an epicenter for global trade.
Initially, the Hong Kong Dollar was issued in both banknotes and coins, using designs inspired by Colonial motifs and history. However, the currency began to develop its local flare, reflecting Hong Kong’s evolving identity and “East meets West” ethos.
Today, the Hong Kong Dollar is issued by three of the city’s commercial banks, including HSBC, Standard Chartered, and Bank of China. This is strictly regulated by the Hong Kong Monetary Authority (HKMA).
The Peg to the US Dollar
Since 1983, the Hong Kong Dollar has been pegged to the US Dollar under a reciprocal exchange rate.
The exchange rate is set at HK$7.80 to US$1. It may fluctuate slightly, commonly oscillating between HK$7.75 and HK$7.85 depending on global financial and economic activity.
This ‘peg’ was introduced to stabilize the currency, particularly with the 1997 Handover of Hong Kong back to China in mind. The beauty of the peg is that it provides consistency in international transactions, trade, and investment, and remains protected and resilient to speculative global pressures and movement.
The peg is actively kept, meaning that the HKMA intervenes in foreign exchange when necessary, buying or selling Hong Kong Dollars to keep the exchange rate within the prescribed range.
Pale Ale Travel Tip: Unsure of what month is the best time to visit Hong Kong? Make sure to check out my post breaking down the best time to visit Hong Kong and what you can expect at all points of the year!
Symbols, Abbreviations, & Denominations
So what is the symbol for the Hong Kong Dollar and how can you easily identify it?
Symbols & Abbreviations
The Hong Kong Dollar is technically considered a ‘dollar’ so the $ sign is commonly used as a symbol for Hong Kong’s currency.
In cases where other dollar-denominated currencies are used or mentioned, in both local and international transactions, the Hong Kong Dollar is distinguished by the use of ‘HK$’.
In financial markets, when referring to the Hong Kong Dollar as a national currency, it is abbreviated as HKD. This follows the ISO 4217 standard and is essential for digital transactions and international trade/transfers for clarity purposes.
For example, when I transfer money from my Hong Kong HSBC account to my U.S. Charles Schwab account, it will prompt me to debit ‘HKD’.
A general rule of thumb is that the ‘$ sign’ is used in everyday life, such as on menus, shopping receipts, and store products, while HKD is universally used in formal and international contexts, such as banking and online transactions.
Denominations of the Hong Kong Dollar
The Hong Kong Dollar is issued in a wide range of denominations, making it practical for both large-scale transactions and everyday purchases.
Specifically, a single Hong Kong Dollar is split into 10 sin1 (仙), 20 sin1 (仙), and 50 sin1 (仙), which is equivalent to ‘cents’. The term ‘sin’ (in Cantonese first tone) is derived from the English word for ‘cent’. Coins are also issued in HK$1, HK$2, HK$5, and HK$10.
HK$10 is my favorite and I always feel like I hit the jackpot when I find one or two in a pair of pants.
These are the denominations of coins that you will use in everyday transactions and receive as change. They all vary in size, weight, and design, with the HK$5 being the thickest and heaviest.
Pale Ale Travel Note: The number next to ‘sin’ represents the tone in Cantonese.
Hong Kong previously used and circulated 1-cent and 5-cent coins. However, both have been discontinued and ceased to be used as a currency for over 60 years.
While they are still technically legal tender, I recommend collecting both and holding onto them dearly!
The banknotes used in Hong Kong are HK$10, HK$20, HK$50, HK$100, HK$500, and HK$1,000. The HK$1000 note isn’t generally used in everyday transactions as it is the equivalent of USD 130.
Hong Kong ATMs give out HK$100, HK$500, and selectively HK$1,000 banknotes.
As Hong Kong’s banknotes are issued by three separate banks: HSBC, Standard Chartered, and Bank of China, each bank has its own set of designs and motifs for each note, resulting in several designs for the same denomination banknote.
It’s worth noting that the HK$10 banknote is especially unique and coexists with the HK$10 coin. The note itself is purple and made of polymer instead of traditional paper.
How Can You Identify Coins & Banknotes?
Below, you’ll find two easily referenceable tables that highlight what you’ll see on the front and back of both Hong Kong Dollar coins and banknotes.
| Coin | Color | Front Design | Back Design |
| 10 cents (壹毫) | Bronze/copper-colored | Bauhinia flower | 壹毫 Denomination and the year of issue |
| 20 cents (貳毫) | Bronze/copper-colored | Bauhinia flower | Denomination and the year of issue |
| 50 cents (伍毫) | Bronze/copper-colored | Bauhinia flower | Denomination and the year of issue |
| $1 (壹圓) | Silver | Bauhinia flower | Denomination and the year of issue |
| $2 (貳圓) | Silver | Bauhinia flower | Denomination and the year of issue |
| $5 (伍圓) | Silver | Bauhinia flower | Denomination and the year of issue |
| $10 (拾圓) | Silver outside ring, copper-colored inside core | Bauhinia flower | Denomination and the year of issue |
The Bauhinia flower is the symbol of Hong Kong (and unity), found on coins, banknotes, and the Hong Kong flag. This design was introduced in 1993, replacing the previous series of coins that featured Queen Elizabeth II (which are still in circulation but increasingly rare).
All Hong Kong coins are made from nickel-brass, with the $10 coin diverging slightly with a bimetallic design. The outer ring of the Hong Kong $10 coin is nickel-brass while the inner core is copper-nickel.
| Banknote | Color |
| $10 | Purple, blue, and white |
| $20 | Blue |
| $50 | Green |
| $100 | Red |
| $500 | Brown |
| $1000 | Orange |
Because there are three different issuing banks for Hong Kong banknotes, the designs can vary greatly – so the most important way to tell each denomination apart is by its color.
For example, HSBC-issued banknotes may have an image of the HSBC headquarters and a lion head on it, while the Bank of China may have an image of the Bank of China Tower and motifs of traditional Chinese tea culture.
Each banknote will generally showcase a mix of the bank’s heritage, Hong Kong’s cultural identity, and major landmarks in the city.
Finally, an interesting fact is that the $10 banknote is issued by the Hong Kong Monetary Authority on behalf of the government and not by any of the three aforementioned banks. This stemmed from a high demand for the note in the early 2000s.
Pale Ale Travel Tip: If you’re considering a trip to Hong Kong and want to know exactly what you can expect to spend on accommodation, food, drink, and nearly everything in between, make sure to check out my comprehensive guide ‘Is Hong Kong Expensive?’.
Hong Kong Dollar Exchange Rates
Below is a table showing the Hong Kong Dollar exchange rate with some popular currencies used by tourists traveling to Asia’s World City.
You can find the most current Hong Kong Dollar exchange rates here.
| Currency | Exchange Rate |
| 1 USD = | 7.75 to 7.85 HKD |
| 1 EUR = | 8.01 HKD |
| 1 GBP = | 9.51 HKD |
| 1 JPY = | 0.049 HKD |
| 1 AUD = | 4.79 HKD |
| 1 CAD = | 5.41 HKD |
| 1 CHF = | 8.50 HKD |
| 1 SGD = | 5.68 HKD |
| 1 INR = | 0.091 HKD |
| 1 MYR = | 1.73 HKD |
Frequently Asked Questions About HKD
Below are several frequently asked questions about using HKD in Hong Kong that I’ve received from readers!
Where is the Best Place to Exchange Currency in Hong Kong?
Hands down, the most honest and efficient currency exchange to change money is the Small Girl Money Exchange in Sheung Wan (Hong Kong Island).
This is a currency exchange that I’ve used for several years and is incredibly popular with both locals and foreigners alike due to its fair and reasonable rates and long operating hours (including Sundays).
Pale Ale Travel Tip: A common question I receive from readers is if there is Uber in Hong Kong?. Make sure to check out my post breaking down everything you need to know about using Uber in Hong Kong and additional tips on navigating the city.
Can You Use Mainland China’s RMB in Hong Kong?
The general rule of thumb is that ‘No’, you cannot use Mainland China’s currency, the renminbi (RMB) in Hong Kong, so you will need to exchange any RMB you may have for HKD to be able to purchase items and/or services.
However, there are some restaurants and shops that may accept it. These are typically businesses that have some sort of connection to Mainland China, such as specific hotels, shops in tourist zones, or other China-related establishments.
But you will inevitably end up spending more than you would with HKD as there is typically a lack of change and more liberal exchange rates (or those with a premium).
Are Ripped Banknotes Still Accepted?
Ripped or damaged banknotes in Hong Kong may be rejected by retailers, vendors, and other establishments.
Generally, you can take it to a bank to exchange it for newer/more intact bills as long as the serial number is legible.
My pro tip is that you can actually go to an Octopus top-up/add-value machine and oftentimes you can insert it, using the ripped/damaged bill to top up your Octopus card.
Start Your Hong Kong Trip Off Right
When traveling to Hong Kong, it’s important to make sure that you have your t’s crossed and i’s dotted when it comes to handling money.
I’ve had more than my fair share of trips derailed by mixing up bills and only realizing that I overpaid for something significantly after returning to my hotel room.
I’ve also shown up in a country completely unaware of the currency they use and its exchange rate with the USD, leading to me being excessively frivolous with spending.
Acquainting yourself with the currency used wherever you’re traveling will make your trip exponentially smoother and mitigate the chances of at least one hiccup.
If you have any questions about visiting Hong Kong and budgeting for your trip, please don’t hesitate to reach out to me at info@palealetravel.com.
Finally, if you’d like insider tips on where to eat and drink, what to do, and upcoming events in Hong Kong, don’t forget to subscribe to my super secret newsletter here.
Travel well everyone,
Big Body
Big Body is a voracious lov…eater, a cowardly fighter, and a self-proclaimed curry goat BBQ-eating champion (don’t forget the donkey milk) who likes Stoicism, baseball, and writing in the third person. Having worked for himself for the last 7 years, he isn’t particularly successful but he does still drink ice-cold Sapporo draft beers with the best of them and knows his way around a Dai Pai Dong or two. He is based in Hong Kong but you can still find him in Saigon, Osaka, and Vienna for extended periods.