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INR
Buy, Sell or Transfer Hong Kong Dollar (HKD) in India at the best exchange rates
| Currency Name | Buy Rate (Card Rate) | Sell Rate |
|---|---|---|
| View Detailed Rate card | ||
HKD, or the Hong Kong Dollar is the official currency of Hong Kong. The currency is also called Honkie, which is like a nickname for the currency. It enjoys quite a good reputation when it comes to trading and exchange. In recent times, the currency has been looked upon as a good investment option because of its appropriate exchange rates and other factors. The currency's stability is one other reason why it is considered strong and popular. In addition to this, the region's political outlook, financial mechanism, and freedom have also contributed to the currency's growth.
As HKD is the official currency of Hong Kong, it is controlled by the region's central bank called Hong Kong Monetary Authority. Also, in addition to Hong Kong, the currency is used in Macau and is exchanged in several other regions. Macau's currency, Pataca, is also pegged to the HKD. At first, the Hong Kong currency system was introduced by the British but citizen's mistrust and China's disapproval led to its disruption. In 1873, the region faced some crisis which resulted in the involvement of the British again and thus, their dollars which were being used for exchange at that time came to be used as their official currency.
Currently, HKD is pegged to USD , where 7.80 HKD makes 1 USD. This value keeps on fluctuating a bit. The banknotes of HKD are printed by three banks, Standard Chartered Bank, HSBC, and Bank of China. The banknotes have denominations of 10, 20, 50, 100, 500, and 1000 HKD. Coins are also minted in the denominations of 10, 20, and 50 Cents and 1, 2, 5, and 10 HKD. The government of Hong Kong issues the coins.
Being one of the most traded currencies in the world, the Hong Kong Dollar is subject to being driven by a number of factors. The exchange rate , the rate at which one currency converts to another, of HKD to INR (Indian National Rupee) is INR 10.44/HKD. By this, it means that a person has to have INR 10.44 in order to receive 1 HKD.
There are various reasons that impact the value of HKD in terms of INR. The value of USD is one reason since HKD is pegged to the USD at a value of 7.80 HKD/USD. International trade and finance are other reasons that play a decisive role in the value of HKD. Also, foreign start-ups are also rising in the country which further leads to its economic growth. Apart from these the price of commodities in the international market and the inflation rate also affects the value of the Hong Kong Dollar.
Hong Kong Dollar is pegged to the US Dollar. However, the Indian National Rupee is currently not pegged to any currency. Since the exchange rate of HKD to INR keeps on changing. As of today, the exchange rate is INR 10.44 per HKD. On the other side, INR to HKD is 0.096 HKD/INR. Let's understand this with the help of an example: Sushmita is a multinational employee in a start up in Hong Kong. She is planning to surprise her parents in India by visiting them. She needs to exchange 10,000 HKD for INR so she could use the money in India. As of today's rate, that is, INR 10.44/HKD, Sushmita will receive INR 104,400 for exchanging 10,000 HKD.
Converting currency is a mandatory task if you are visiting a foreign land. However, before actual conversion, you may want to check the amount you will need to exchange for a specific foreign currency. For this purpose, you may use the currency converter . It is an online tool that lets you easily make calculations for your preferred currency and as per the current rates. As for the currency rate of HKD-INR, the calculations will be as follows:
1 HKD= INR 10.44
100 HKD= INR 1,044
1,000 HKD= INR 10,440, and
INR 1= 0.096 HKD
INR 1,000= 96 HKD
INR 10,000= 960 HKD.
The monetary authorities of respective countries are responsible for maintaining the working and administration of the country's currency. In the case of HKD-INR, the monetary authority of both countries collaborate to fix the exchange rate. The Reserve Bank of India is the monetary authority of India and for Hong Kong, it is the HKMA (Hong Kong Monetary Authority). Depending on the ongoing rates in the international market, the rates keep on fluctuating. If you are planning to exchange HKD for INR or vice-versa, it will be helpful if you use the currency converter to know the amount needed. It aids you in making informed decisions.
The Hong Kong Dollar is one of the reserve currencies and is doing quite well in the global economy. The high trade market and trading techniques of the country have led to a respectable position of HKD in the global markets. On the other hand, INR has also seen quite advancements and changes in recent times. Both countries also share trading relations for several commodities. As of now, the exchange rate is INR 10.44 per Hong Kong Dollar. By maintaining bilateral trade, both countries are sharing healthy trade relations.
Disclaimer: The figures are for illustrations only, as the currency rates are subject to change.
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