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The issue of banknotes of the Hong Kong dollar is governed in the Special Administrative Region of Hong Kong by the Hong Kong Monetary Authority (HKMA), the governmental currency board and central bank of Hong Kong. Under licence from the HKMA, three commercial banks issue their own banknotes for general circulation in the region. Notes are ...
The Hong Kong Monetary Authority (HKMA) is the central banking institution of Hong Kong. It is a government authority founded on 1 April 1993 when the Office of the Exchange Fund and the Office of the Commissioner of Banking merged. The organisation reports directly to the Financial Secretary. [2]
The Hong Kong dollar (Chinese: 港元, sign: HK$; code: HKD) is the official currency of Hong Kong. It is subdivided into 100 cents. Historically, it was also subdivided into 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong and the Hong Kong dollar.
The Hong Kong Monetary Authority (HKMA), Hong Kong's de facto central bank, authorised note-issuing banks to issue banknotes. These banks are required to have the same amount of US dollars to issue banknotes. The HKMA guarantees to exchange US dollars into Hong Kong dollars, or vice versa, at the rate of 7.80.
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 ...
Due to the high demand for the banknote, it was reissued under a new colour and design in 2002 by the Hong Kong Government. It was the first that the Government had issued any banknotes after the denomination of one-cent note in 1995 and the ten-dollar note remains the only circulating denomination that is issued by the Government rather than ...
The Exchange Fund of Hong Kong is the primary investment arm and de facto sovereign wealth fund of the Hong Kong Monetary Authority.First established in 1935 in order to provide backing to the issuance of Hong Kong dollar banknotes, over the years the role of the Fund has continually expanded to now include management of fiscal reserves, foreign currency reserves, real estate investments, and ...
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.