Currency in Hong Kong
The complete Hong Kong Dollar (HKD) travel guide
The Hong Kong Dollar (HKD, often written HK$) has been pegged to the US Dollar at HK$7.75–7.85 per US$1 since 1983 under the Linked Exchange Rate System — making it one of the most stable currencies in the world. Uniquely, Hong Kong banknotes are issued by three private commercial banks (HSBC, Standard Chartered, and Bank of China Hong Kong) rather than a central bank, all under the supervision of the Hong Kong Monetary Authority. Banknotes come in HK$10, HK$20, HK$50, HK$100, HK$500, and HK$1000; coins in 10¢, 20¢, 50¢, HK$1, HK$2, HK$5, and HK$10.
Cash, cards, and ATMs in Hong Kong
Hong Kong is overwhelmingly card-first — Visa, Mastercard, UnionPay, and Octopus card (local contactless payment system) work nearly everywhere. American Express is accepted at major hotels and chain restaurants. ATMs are everywhere — HSBC, Hang Seng, Standard Chartered, and Bank of China all have foreign-card-friendly machines, typically without per-transaction fees. Avoid "Jetco" branded standalone ATMs in tourist areas — they sometimes charge HK$30–50 per foreign withdrawal. The Octopus card (HK$50 deposit, refundable) works on all public transit and many retailers, including 7-Eleven and supermarkets.
Tipping culture in Hong Kong
Tipping in Hong Kong is modest. Restaurants: a 10% "service charge" is added to most sit-down restaurant bills (often goes to the restaurant, not staff) — additional tipping is optional, round up or add HK$10–20 for excellent service. Taxis: round up to the nearest HK$5 or HK$10. Hotels: HK$10–20 per bag for bellhops. Star Ferry, Octopus rides, MTR, and street food vendors — no tipping expected. Western-style hotels often add a 10% service charge automatically.
Best way to get Hong Kong Dollar (HKD)
Because HKD is pegged to USD, conversion rates are extremely predictable — typically 7.78–7.85 HKD per USD. The best USD-to-HKD rates come from multi-currency cards (Wise, Revolut) — typically within 0.3% of mid-market. Standard Chartered and HSBC branches in Hong Kong offer institutional rates (around 7.81–7.83) for sizeable conversions. Avoid currency-exchange counters in tourist areas (Tsim Sha Tsui, Causeway Bay) — many post rates 4–6% above the peg edge. Withdraw HK$1,000–2,000 at a time from a bank ATM to minimize per-transaction fees.
Practical money tips for Hong Kong
- •Get an Octopus card immediately — pay-as-you-go contactless for MTR, buses, ferries, taxis, and 7-Eleven
- •Most restaurants add a 10% service charge — check the bill before adding additional tip
- •Tap water in Hong Kong is technically safe but most locals prefer bottled water due to taste
- •Free Wi-Fi is excellent at MTR stations, public buildings, and most cafes
- •Mainland China card (UnionPay) is widely accepted in Hong Kong — useful if visiting from China
- •Hong Kong plug type G (same as UK) with 220V/50Hz — bring an adapter from North America
- •The "Touch Wood" or "Mong Kok night market" experience requires cash — keep HK$200–500 on hand
Common money scams to avoid in Hong Kong
Hong Kong has relatively low tourist-money fraud compared to most Asian destinations. The main risks: overpriced "ginseng" or "shark fin" pitches in Tsim Sha Tsui targeting mainland tourists; aggressive jewellery store touts in tourist areas; high-pressure "free demonstration" massage parlors that bill HK$2,000+ at the end; and unmetered taxi negotiations from Hong Kong International Airport (always use the metered taxi queue, not airport touts). Dynamic currency conversion at card terminals — always pay in HKD, not your home currency.
Frequently asked questions
Is the Hong Kong Dollar the same as the Chinese Yuan?
No, they are entirely separate currencies. HKD (Hong Kong Dollar) is used in Hong Kong only and is pegged to USD. CNY/RMB (Chinese Yuan/Renminbi) is used in mainland China and is managed by the People's Bank of China within a trading band. The two currencies are not interchangeable — you cannot spend HKD in mainland Shanghai, nor CNY in central Hong Kong.
Can I use US dollars in Hong Kong?
Some tourist businesses in Tsim Sha Tsui accept USD but at terrible rates (you'll lose 5–10% of value). Always pay in HKD if you have it, or use a card. Convert before arrival or withdraw HKD from a bank ATM on arrival.
What is the Octopus card and do I need one?
Octopus is Hong Kong's contactless payment system, originally for transit but now accepted at 7-Eleven, restaurants, vending machines, and many small retailers. A standard Octopus card costs HK$150 (HK$100 stored value + HK$50 refundable deposit). For visits over 2 days, it's essential — much faster than cash for transit.
Why is HKD pegged to USD?
The peg was established in 1983 during a confidence crisis ahead of the 1997 handover to China. Hong Kong's small open economy benefits from currency stability for trade and finance. The HKMA holds over $400 billion in USD reserves to defend the peg — making it one of the best-defended currency arrangements in the world.
When is the best time to convert USD to HKD?
Because the peg keeps HKD between 7.75 and 7.85 per USD, timing matters very little — rates are essentially flat year-round. Focus on minimizing conversion fees (Wise multi-currency card or bank ATM) rather than chasing rate movements that don't happen.
Convert to and from HKD
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Exchange rates refresh hourly from Frankfurter (European Central Bank reference data). Travel money information was compiled in 2026 and reflects current cash/card culture, tipping norms, and common scam patterns.