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HIBOR is fixed by the Hong Kong Association of Banks (HKAB) by reference to market rates for HKD deposits in the Hong Kong interbank market. These fixings are usually released on the website of the HKAB each business day (excluding Saturdays) at 11:15 a.m., on the basis of quotations provided by 12 to 20 banks designated by the HKAB.
Fixed currency Anchor currency Rate (anchor / fixed) Abkhazian apsar: Russian ruble: 0.1 Alderney pound (only coins) [1]: Pound sterling: 1 Aruban florin: U.S. dollar: 1.79
Fixed exchange rate against the US dollar: Exchange rate: US$1:HK$5.650 (June 1972 – February 1973) US$1:HK$5.085 (February 1973 – November 1974) November 1974 – October 1983 Free floating: Exchange rates on selected days: US$1:HK$4.965 (25 November 1974) US$1:HK$9.600 (24 September 1983) 1983 – present Linked exchange rate system
5-sol French coin and silver coins – New France Spanish-American coins- unofficial; Playing cards – 1685-1760s, sometimes officially New France; 15 and a 30-deniers coin known as the mousquetaire – early 17th century New France
De Facto Classification of Exchange Rate Arrangements, as of April 30, 2021, and Monetary Policy Frameworks [2] Exchange rate arrangement (Number of countries) Exchange rate anchor Monetary aggregate target (25) Inflation Targeting framework (45) Others (43) US Dollar (37) Euro (28) Composite (8) Other (9) No separate legal tender (16) Ecuador ...
The economy of Hong Kong is a highly developed free-market economy. It is characterised by low taxation, almost free port trade and a well-established international financial market. [15] [16] Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, [17] and is pegged to the US dollar.
The ordinance provides a framework for the Hong Kong Government to exchange views with the banking sector for the further development of the industry. Although banking licenses are granted by the Hong Kong Monetary Authority , licensed banks in Hong Kong are required to join the HKAB and are thus subject to HKAB's rules.
It is included the Linked Exchange Rate System and noticeable features such as the Aggregate Balance, Certificates of Indebtedness and coins issued and the Outstanding Exchange Fund Bills and Notes. The Interest Rate Adjustment Mechanism is an automatic system that maintains the stability of the Hong Kong dollar exchange rate.