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The HKMA guarantees to exchange US dollars into Hong Kong dollars, or vice versa, at the rate of 7.80. When the market rate is below 7.80, the banks will convert US dollars for Hong Kong dollars from the HKMA; Hong Kong dollar supply will increase, and the market rate will climb back to 7.80.
Hong Kong dollar banknotes in everyday circulation are issued in denominations of $10, $20, $50, $100, $500 and $1,000. Although it is common practice for most Hong Kong businesses to reject $1,000 notes due to the risk of counterfeit money. [1]
In the same year, the Hong Kong dollar was pegged to the U.S. dollar at a rate of HK$5.65 = US$1, revised to HK$5.085 = US$1 in 1973. From 1974 to 1983, the Hong Kong dollar was not anchored to another currency, changing the monetary regime from a currency board system to a floating currency system.
However, due to the low price level in that era, those notes are currently extremely rare. It was not until 31 March 1977 that the first circulating note was issued by the HSBC with a dimension of 100mm by 173mm. Later on 6 March 1979, the Standard Chartered Bank (Hong Kong) issued its own one thousand-dollar note, with a dimension of 100mm by ...
TemplateData for Hong Kong dollar This template renders a Hong Kong currency value (HKD) with an ISO-4217 identifier linked to the ''Hong Kong dollar'' article. The value will be formatted via {{Format price}}.
The renminbi (RMB, also known as Chinese yuan; ISO code: CNY) is the official currency of the People's Republic of China. [1] Although it is not a freely convertible currency, and has an official exchange rate, the CNY plays an important role in the world economy and international trade.
The Hong Kong five hundred dollar note was first issued in undated from the 1860s by the Oriental Bank Corporation, the Standard Chartered Bank (Hong Kong) but a confirmed date for this bank is 1879, followed by The Hongkong and Shanghai Banking Corporation in 1877, the Mercantile Bank in 1948 and the Bank of China in 1994.
The Bank started issuing banknotes of the Hong Kong dollar in 1862, and still does so today. In 2000, Standard Chartered acquired Hong Kong–based retail banking business of the Chase Manhattan Bank, including Chase Manhattan Card Company Limited. In 2010, Standard Chartered acquired the Hong Kong consumer operations of GE Capital. [2]