Definition

1. Noun:
   • The basic unit of money in Hong Kong: The Hong Kong dollar is the official currency of the Hong Kong Special Administrative Region of the People's Republic of China. It is subdivided into 100 cents.

Usage

• The Hong Kong dollar is used for all financial transactions within Hong Kong, including pricing goods, services, and assets.
• Its value fluctuates against other major world currencies on the foreign exchange market.
• The currency code is HKD, and the symbol is $ or HK$.

Examples

• Noun:
  • The price of the souvenir is fifty Hong Kong dollars.
  • You can exchange your US dollars for Hong Kong dollars at the airport.
  • The company's earnings were reported in Hong Kong dollars.

Advanced Usage

• "pegged to the US dollar": A common phrase describing the Hong Kong dollar's monetary policy. Since 1983, the Hong Kong dollar has been pegged to the US dollar within a narrow trading band.
  • The stability of the Hong Kong dollar is maintained because it is pegged to the US dollar.

Variants and Related Words

• HKD: The standard three-letter currency code (ISO 4217) for the Hong Kong dollar.
  • The transaction amount was 1,000 HKD.
• Cent: A subdivision of the Hong Kong dollar; 100 cents equal one Hong Kong dollar.
  • The bus fare costs five Hong Kong dollars and forty cents.

Synonyms

• Currency of Hong Kong: A descriptive synonym.
• HK$: A common written symbol representing the currency.

Related Terms (Not Phrasal Verbs)

• Linked exchange rate system: The official term for the currency board system that maintains the peg between the Hong Kong dollar and the US dollar.
• Monetary Authority: Refers to the Hong Kong Monetary Authority (HKMA), which is responsible for maintaining the stability of the Hong Kong dollar.

Noun

1. the basic unit of money in Hong Kong