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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
Currency quotations use the abbreviations for currencies that are prescribed by the International Organization for Standardization (ISO) in standard ISO 4217.The major currencies and their designation in the foreign exchange market are the US dollar (USD), Euro (EUR), Japanese yen (JPY), British pound (GBP), Australian dollar (AUD), Canadian dollar (CAD), and the Swiss franc (CHF).
The same mechanism also works when the market rate is above 7.80, and the banks will convert Hong Kong dollars for US dollars. The Hong Kong dollar is backed by one of the world's largest foreign exchange reserves, which is over 7 times the amount of money supplied in circulation or about 48% of Hong Kong dollars M3 at the end of April 2016. [3]
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 ...
Currency ISO 4217 code Symbol or Abbrev. [2]Proportion of daily volume Change (2019–2022) April 2019 April 2022 U.S. dollar: USD $, US$ 88.3%: 88.5%: 0.2pp Euro
Australian dollar [21] AUD Christmas Island : A$ [21] cent [21] AUD Cocos (Keeling) Islands : A$ [21] cent [21] Euro [5] [22] EUR Cyprus € [5] cent [5] US Dollar [23] USD East Timor: US$ [23] Centavo [23] Lari [24] GEL Georgia: ლარი [25] Tetri [24] Hong Kong dollar [26] HKD Hong Kong: HK$ [26] cent [26] Indian Rupee [27] INR India ...
The exchange rate between the Hong Kong dollar and the United States dollar has also been linked since 1983 at HK$7.8/USD, and pataca of Macau, pegged to Hong Kong dollar at MOP1.03/HKD, indirectly linked to the U.S. dollar at roughly MOP 8/USD.
Before the crisis, the exchange rate between the rupiah and the dollar was roughly 2,600 rupiah to 1 U.S. dollar. [48] The rate plunged to over 11,000 rupiah to 1 U.S. dollar on 9 January 1998, with spot rates over 14,000 during 23–26 January and trading again over 14,000 for about six weeks during June–July 1998.