EnchantedPulse
Mon Jun 10 2024
|
6 answers
1133
What is the Hong Kong dollar backed by?
I don't understand this question. Could you please assist me in answering it?
Carlo
Sun Jun 09 2024
|
6 answers
1305
What is the Hong Kong dollar backed by?｜ensures that Hong Kong's entire monetary base is backed with US dollars at the linked exchange rate. The resources for the backing are kept in Hong Kong's exchange fund, which is among the largest official reserves in the world.The currency board system
Could you explain what exactly backs the Hong Kong dollar? Is it simply supported by the US dollar at a fixed exchange rate? And how does this arrangement ensure the stability of Hong Kong's monetary base? Also, I'm curious about the exchange fund in Hong Kong - is it where the resources for backing are stored? And how does this fund rank globally in terms of its size and significance? Finally, could you elaborate on the currency board system and its role in maintaining the value of the Hong Kong dollar?
SamsungShine
Sun Jun 09 2024
|
6 answers
1267
What is the best currency to use in Hong Kong?｜Always choose to pay in the local currency - in this case, - to cut your costs and get the best rates available.Hong Kong dollar
Could you please elaborate on why the Hong Kong dollar is considered the best currency to use in Hong Kong? Does paying in the local currency really help cut costs and offer better rates? I'm curious to understand the economic reasons behind this recommendation. Also, are there any other currencies that are acceptable or commonly used in Hong Kong, and how do they compare to the Hong Kong dollar in terms of convenience and exchange rates? Thank you for your insight into this matter.
SolitudeSeeker
Sat Jun 08 2024
|
7 answers
1804
What country uses HK as currency?｜The Hong Kong Dollar (HKD) is the currency of the Hong Kong Special Administrative Region of .China
Excuse me, could you clarify something for me? I've come across the abbreviation "HK" being used as a reference to a currency, and I'm a bit confused about which country employs it. Is it correct to say that the Hong Kong Dollar (HKD) is the official currency of a specific administrative region within China? If so, which administrative region exactly is it? I'm trying to gather information on this matter and would appreciate it if you could provide me with a precise answer. Thank you for your assistance.
Giulia
Sat Jun 08 2024
|
6 answers
1238
What coin does Hong Kong use?｜The is divided into 100 cents and issued in seven denominations: 10c, 20c, 50c, HK$1, HK$2, HK$5 and HK$10. The Hong Kong dollar, the ninth most traded currency globally, is not a floating currency. It is pegged to the US dollar with a narrow trading band.Hong Kong dollar
Could you please clarify which coinage system Hong Kong utilizes? Also, could you elaborate on the denominations available for the Hong Kong dollar? I understand it is subdivided into cents, but could you specify the exact denominations in both cents and dollar format? Additionally, it's mentioned that the Hong Kong dollar is among the top traded currencies globally. Could you comment on its trading status and the relationship it maintains with the US dollar? Is it a floating currency or pegged to the US dollar? Thank you for your assistance in clarifying these points.
