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Hong Kong dollar HKD forecasts for 2020

Forecasts and predictions for the Hong Kong dollar change all the time, affected by news events and relative sentiment towards the HK economy. This continually updated article reviews HKD bank forecasts and popular cross-rate trends.

Scotiabank admitted defeat in April when it said that USD, and therefore HKD, was likely to be “stronger for longer.” It had long held a bearish view on both currencies.

HSBC said in May to expect higher HKD values relative to the Australian dollar and New Zealand dollar, and against riskier emerging market currencies.

In May, HSBC warned against thinking that USD, and therefore HKD, had gotten too high. The bank highlighted the “desolation and destruction” (an exaggeration) facing other economies, and the lack of value-maintaining currency alternatives.

HKD in the markets

Earlier in the year the threat of proxy war between the US and Iran in Ira helped bring on gains in the Japanese yen and US dollar plus currencies pegged to the greenback such as the Hong Kong dollar.

NAB told Bloomberg TV that it sees a recovery in Asian currencies in the 2nd half of the year if the coronavirus comes under control.

HKD/USD - 90 day trend
HKD/USD at 0.1289 was trading near AVG:0.1289 with LO:0.1283 and HI:0.129 (90 days). There are no current rate alerts.

You can also read our full Foreign Exchange Guide to Hong Kong.

What is a good HKD dollar exchange rate?

This is a difficult question and the answer really depends on many factors. The best way to consider an exchange rate's relative value is to look at the rate's history.

For example, the following table looks at the change in the HKD to USD exchange rate to the present day for periods going back 10 years:

1 Week1.027911 May 2020
30 Days1.033718 Apr 2020
90 Days1.017018 Feb 2020
1 Year0.989319 May 2019
5 Years1.068620 May 2015
10 Years0.869421 May 2010
Please note that the opinions of our authors are their own and do not reflect the opinion of Best Exchange Rates and should not be taken as a reference to buy or sell any financial product.

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