FairFX
FairFX Prepaid MasterCard®

Check out our Hong Kong Dollar exchange rates

I want to buy using

Currently we are only accepting payments in Pounds Sterling from UK residents.

History of the Hong Kong Dollar

Established in 1845, the Hong Kong dollar, also denoted as HKD, was originally linked to the British pound. The Hong Kong dollar was pegged to the US dollar in 1971, and with that change came a fluctuation that followed the liquidation of the Sterling area. For some time the currency moved to a floating basis, meaning that it was not based on any other currency. However, the Hong Kong dollar was pegged once again to the US dollar in 1983 in an attempt to prevent the value from collapsing during a time of political difficulties between the United Kingdom and China concerning the city's future. As a result, banks must now have the equivalent exchange in US dollars on deposit to have the right to issue the Hong Kong dollar, thus ensuring that the city's full monetary structure is backed with US dollars. This system remains in effect today, despite sovereignty of Hong Kong being returned to China in 1997.

Historical British Pound Sterling to Hong Kong Dollar Conversion Rates

Originally the Hong Kong dollar was linked to the British pound sterling because the city was a crown colony of the United Kingdom, but that changed in the early 1970s when the currency was pegged to the US dollar instead. From the late 1940s to the late 1960s, the conversion rate between the Hong Kong dollar and the British pound sterling remained remarkably steady, hovering around .0625 GBP to HKD for the entire twenty year period. The rate experienced a slight increase after that but remained steady at around .069 GBP to HKD until 1972. Then the HKD fell into a drastic upward spiral, reaching an all-time high of .12 GBP to HKD in 1977. After that, however, the Hong Kong dollar's conversion to the British pound enjoyed a slow but steady decline, particularly in the late 1980s when discussions between the United Kingdom and China began that addressed issues concerning the transfer of sovereignty, which was a concern held by Hong Kong residents.

Convert GBP to HKD - Recent Currency Exchange Rates

Despite being a territory of China, Hong Kong is largely self-governing, which has shown to be beneficial for recent currency exchange rates. Over the last ten years, the Hong Kong dollar has remained steady overall, just like it has in the past. The conversion rate between the British pound sterling and the Hong Kong dollar increased slightly when control of the city was returned to China in 1997, but since 2003 the exchange has been on a slow but steady downswing. Currently, the rate remains strong, reaching a level of .064 GBP to HKD in 2007 - its lowest conversion rate since 1967. There was a continuation of that dip in 2008 due to the global recession.

Today's Hong Kong Dollar exchange rates

I want to buy using

Currently we are only accepting payments in Pounds Sterling from UK residents.