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The reverse featured the Chinese characters and English words for 圓 (yùhn) one dollar, and 香港 Hong Kong, as well as an image of an English crowned lion in the centre. In 1993 the portrait of Elizabeth II was replaced with the Bauhinia flower, this design is used to the present day but its first year's issue was made of nickel-plated ...
US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador El Salvador Marshall Islands Micronesia Palau Panama Timor-Leste Andorra Monaco San Marino Vatican City Kosovo Montenegro Kiribati Nauru Tuvalu; Currency board (11) Djibouti Hong Kong ; ECCU Antigua and Barbuda Dominica
On 17 October 1983, the Hong Kong dollar was officially pegged to the U.S. dollar at a rate of HK$7.8 = US$1, officially switching back to the currency board system. The peg of Hong Kong dollar to the U.S. dollar in 1983 actually took place in the context of Sino-British negotiation regarding the future of Hong Kong after 1997.
Hong Kong officially introduced a new series of coin on New Year's Day (1 January) 1993 at stroke of midnight HKT in denominations of 10-cent, 20-cent, 50-cent, HK$1, HK$2 and HK$10. Since the introduction of the Octopus card in 1997, small value payments and purchases in Hong Kong are mostly made as Octopus transactions.
Hence, by 1935, when China and Hong Kong came off the silver standard, the Straits dollar was worth 2s 4d (11.5p approx) sterling, whereas the Hong Kong dollar was worth only 1s 3d sterling (6p approx). The term "dollar" has also been adopted by other countries for currencies which do not share a common history with other dollars.
The rupiah fell from Rp4,085 to Rp5,650 per dollar in the space of a single week. By the middle of the month, 154 banks, comprising half of the banking system, had suffered bank runs. By Christmas Eve, the rupiah stood at 5,915 per dollar, a fall of 60% since July. The New Year had the rupiah begin at Rp5,447 per dollar.
The one dollar note was first issued by The Hongkong and Shanghai Banking Corporation from 1872 to 1935. No other bank issued this denomination. No other bank issued this denomination. In 1935 the Government of Hong Kong took over the issuing and became the sole issuer for this denomination.
The same mechanism also works when the market rate is above 7.80, and the banks will convert Hong Kong dollars for US dollars. The Hong Kong dollar is backed by one of the world's largest foreign exchange reserves, which is over 7 times the amount of money supplied in circulation or about 48% of Hong Kong dollars M3 at the end of April 2016. [3]