The Linked Exchange Rate System, or the "Peg", was established in 1983 amid political and social turmoil when former UK Prime minister Margaret Thatcher began talks with China on the future of Hong Kong after the Handover in 1997.
The world renown logo of the Hong Kong Bank - the pair of Bronze Lions at their main entrance facing Des Voeux Road Central.
— The Hongkong Bank (HSBC),
— The Standard Chartered Bank, and
— the Bank of China. (Please note that this is not the central bank of China. The Central bank is called the People's Bank of China).
Coins are issued by the HKSAR government.
The following are issued by HSBC
/ Colour
Issued by the Government
Dark Bluish Green
.... 
.... 
Purple
Red
.. 
...
HK$500.-
Coffee
Light Gold
The best place you
would find Hong Kong dollar in your home country is perhaps the "Hongkong
Bank". Try and locate one in the closest China town near you.
Or you can ask the Chinese people to see if they know a good place to
change money. (We do not recommend black market though!)
If you come from a country where you can't find a Chinese on the street
(which should be very rare), and that your local banks do not carry Hongkong
dollars, change your money into US dollars. The Hong Kong dollar
is pegged to the US dollar at HKD7.80 to US$1.00. That means the Hongkie
would not fluctuate wildly against the US dollars.
<Risks>
Though the government pledged that every aspects of life will not be altered
in the next 50 years, there is still risk that the HK government might
decide to end that Peg System before its time is up. It will be at your
own risks if you change all your money at one go. It is said that the
Hongkie at this peg rate of 7.8 was about 30% over-valued. Click
here to read what the Hongkong people said about this Peg system and
other economic issues in Hong Kong.
If your home currency fluctuates wildly against the greenback, like the
Japanese Yen, and you don't want to take the currency risks between flights,
you are also advised to change your money into US dollars first.
Words of advice:
1) dont change all your money at one go into Hongkie before you leave
your home country.
2) though it maybe easier for you to exchange money at Hongkong Bank in
your home country, while in Hong Kong, you are advised to change your
money at other local banks and money changers. They should be able to
quote you more competitive exchange rates and charge lower commission.
Yes
if you are not travelling with a group and there is no one to pick you
up from the airport. You need some small change to take the local transportation
to get to town.
No, don't change all your money at
the airport for the money changers there normally charge you more (or
quote you not as competitive exchange rates). Check the current exchange
rates here and print out a Currency
Converter sheet for easy reference.
Most of the cafes and restaurants in Hong Kong include a 10% service charge in their bill. Though taking all the money away from the tray may be a bit rude, normally you need just to leave another 3 to 5 % on the table if you think the service was okay. It all depends on how you find the food and services there.
For taxi, pay according to the meter in HK Dollars. It's in front of the dash board with a round red metal flag. You need only to round up the amount and you should not pay more than 5 dollars for tips. They might charge you for each large luggage you carry or there are extra costs if you use any one of the cross harbour tunnel. Read carefully the charging methods.
