If you are planning your upcoming Hong Kong trip, then you should know the INR to HKD exchange rate. Knowing the on-going
forex rates can help you plan your vacation better. Knowing the value of 1 INR to HDK can give you an insight on how much forex you will require for your upcoming trip. Hong Kong is located in southeastern China. It is a former British Colony; however, its vibe and urban culture will leave you stunned. Bustling streets, cloud-touching skyscrapers, architectural landmarks, and popular luxury shopping destinations is what you must expect from Hong Kong.
Experienced travelers recommend converting INR to Hong Kong Dollar in India and from a trustworthy
foreign exchange partner. Doing so not only safeguards you from the hassle of finding a forex vendor in Hong Kong, but also marginally improves the INR to Hong Kong Dollar rate.
Importance of the Hong Kong Dollar
HKD is the currency code for the Hong Kong Dollar. The HKD or the Hong Kong Dollar is the official monetary unit of Hong Kong. The Hong Kong Dollar is also used in Macau where the local currency of Macau is pegged to the Hong Kong Dollar. The HKD is considered an important currency as it is traded widely in the foreign exchange market.
Introduction of the Hong Kong Dollar
The history of the Hong Kong Dollar is varied as it has been using a lot of currencies.
1. As per historic records, Hong Kong started using the currency in 1841. It used the Indian Rupee, Spanish reales, Chinese coins, and Mexican reales as a form of currency.
2. Then the Royal Mint in London started minting Hong Kong Dollars in 1863.
4. When Japan occupied Hong Kong only the
Japanese yen was used as the legal monetary unit.
5. Since 1972, the Hong Kong Dollar or HKD is actually pegged at an exchange rate of 1 USD = 5.65 HKD to USD.
The Hong Kong Monetary Authority also referred to as HKMA is the central bank. It authorises the HSBC Bank, the Standard Chartered Bank, and the Bank of China to issue banknotes. The
currency notes denominations under circulation are HK$ 10, HK$ 20, HK$ 50, HK$ 100, HK$ 500, HK$ 1,000. The coin denominations under circulation are 10¢, 20¢, 50¢, HK$ 1, HK$ 2, HK$ 5, HK$ 10. The Hong Kong Dollar is also nicknamed the ‘honkie’.
Factors that affect the exchange of the Hong Kong Dollar to INR
All currencies in the foreign market fluctuate so it is imperative to understand the factors that affect the exchange rate of these currencies. Following are some factors that affect the exchange rate of the Hong Kong Dollar to the Indian Rupee.
1. The economic health of India affects the exchange rate of the Indian Rupee.
2. Interest Rates prevailing in India will affect the foreign currency exchange rate as higher interest rates will attract foreign investments and vice versa.
3. The political stability prevailing in the country will affect the exchange rate as foreign countries will show faith in a government that is loved by its people.
4. Commodity Prices.
5. The balance of Trade is an indicator that affects the exchange rate.
Convert Hong Kong Dollar to INR Online as per Today’s Conversion Rate
Converting the Hong Kong Dollar to the Indian Rupee is very simple. You can either use the online currency conversion calculator or can do it yourself. For doing the conversion you need to know today’s conversion rate. Let us understand the conversion with the help of an illustration.
Mr. Roy living in Hong Kong has saved 3000 HKD which he wants to send to his family in India. So the value of 3000 HKD in the Indian Rupee is 3000 * 10.42 = 31,274.52 Rupees.
Convert Hong Kong Dollar to INR
We have seen the conversion of HKD to INR above with the help of an illustration. Now let us understand the foreign exchange conversion from the Indian Rupee perspective. Today’s conversion rate is 1 INR = 0.096 HKD i.e., the value of 1 INR is equal to 0.096 HKD.
So, 100 Indian Rupees is equal to 9.59 HKD
How are Hong Kong Dollar-INR Rates Determined?
The currency exchange rates are dependent on whether the currency is floating or at a fixed rate. A fixed rate determines that the currency is pegged to another currency. The Hong Kong Dollar is actually pegged to the most powerful currency of the world, i.e. the
US Dollar at 1 USD = 7.75 HKD. While the Indian Rupee is at a floating rate i.e., it is not pegged to any currency. The fixed rate determines that the performance or the exchange rate of the Hong Kong Dollar will be dependent on the performance of the USD. While as the performance of the Indian Rupee will be dependent on the economic and banking decisions of the Central government and the Reserve Bank of India.
Hong Kong Dollar and INR Overview
Hong Kong dollar and the Indian Rupee are a few of the popularly traded currencies in the foreign exchange market. However, both these currency rates fluctuate. The following table showcases the currency exchange rate fluctuation to get a clear understanding of the value of the HKD concerning the Indian Rupee.
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Particulars
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Performance of the last month
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Performance of the last 3 months
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High
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10.490 Rupees
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10.567 Rupees
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Low
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10.398 Rupees
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10.398 Rupees
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Average
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10.445 Rupees
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10.478 Rupees
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Why Thomas Cook?
We aim at simplifying the process of converting INR to HDK. Want to know the exchange value of 1 INR to HDK? Whether you are in India or Hong Kong, you can visit our online currency converter and know the live INR to HDK exchange rate. This 24x7 online tool eliminates the struggle of mental math which you might face while converting currencies. To convert INR to HDK, simply log on to the Thomas Cook website, enter the required details, and we will deliver your forex at your doorstep within 24 hours. If you wish to collect your forex personally, then you can visit your nearest store at your convenience.
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