Not only countries can have their own national currency. Separate territories can do this. Since 1841, Hong Kong has been a British colony. And since then it has been a separate administrative district. Has autonomous rights, participates in international organizations as a separate participant. Therefore, the currency of Hong Kong is a separate monetary unit. Including in the world market. In 1997, Hong Kong reunited with China.
History
In the mid-19th century, Hong Kong was a major port city. For daily trading, yuan, Spanish reals, Indian rupees and other foreign currency were used. And they paid with silver Mexican coins until the beginning of the 20th century. Hong Kong's first own currency appeared in 1895. During the Second World War, the Japanese tried to take out the Hong Kong dollar and replace it with the yen. But locals stubbornly continued to use the old familiar currency.
Design
Hong Kong currency is printed in several banks at once. And everyone develops his own money design. Therefore, outwardly, Hong Kong dollars are very different, even having the same face value. In addition to ordinary banknotes, jubilee ones are issued. But even everyday bills are original and colorful. Since 2003, banknotes have been unified according to their prevailing size and color (denomination is indicated in dollars):
- 20 - 143 x 72 mm, blue;
- 50 - 148 x 74, green;
- 100 - 153 x 72, red;
- 500 - 158 x 80, gray-brown;
- 1000 - 164 x 82, yellow-orange.
Basically, the design of banknotes reflects the established traditions of Hong Kong. The banknotes depict a Chinese bank, modern architectural buildings, lions and mythical creatures, as well as colonial Hong Kong and its attractions. But the real masterpiece is the jubilee banknote of 150 dollars.
The most common currency of Hong Kong has a face value of ten dollars. And in order for banknotes to be used for a long time, their cans are made of polymer material. Of the coins, the most remarkable are in denominations of 20 cents and $ 2. They are minted in the shape of a rounded polygon.
On the obverse of all the coins is a Bauhini flower (a type of orchid), a symbol of Hong Kong. Above and below in the form of a semicircle the inscription is the name of the country. On the reverse side of the coins the face value and year of issue are minted. 7 types of metallic money are in circulation. Three types of cent with face values of 10, 20 and 50 are minted from nickel alloys with brass and steel. Coins in denominations of 1, 2, 5 and 10 dollars are made of copper-nickel alloy and bimetal. In the latter there is an insert made of nickel-brass alloy.
Hong Kong dollar exchange rate
As soon as the Hong Kong currency appeared as an independent monetary unit, its exchange rate was tied to silver, and since 1935 - to the pound sterling. In 1967, he was devalued. This adversely affected Hong Kong dollars. And their binding to the pound ended. In 1972, the Hong Kong dollar was pegged to the US currency.
And the limits of course fluctuations were within 25 percent. Due to inflation, the Hong Kong dollar depreciated by more than 20%. And in 1983 a fixed currency direction was introduced. In 2012, the Hong Kong dollar against the ruble was 1: 3.619254. More recent data is updated daily.