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Hong Kong dollar Markets

HKD Currency Update - Our review of Hong Kong dollar forecasts and news plus charts and historic rates. Check HKD Trends over various time periods.

 

The Hong Kong dollar (HKD) has remained under significant pressure in recent weeks, driven by a wide interest rate gap between the US and Hong Kong that encourages outflows. As analysts noted, the USDHKD pair has been trading consistently at the upper bound of its peg band, approaching the 7.85 limit for the first time since 2023. The Hong Kong Monetary Authority (HKMA) has intervened to stabilize the currency, but forecasts suggest further weakness may persist unless there is a shift in Federal Reserve policy.

The latest economic metrics present a mixed picture. A year-on-year GDP growth rate of 3.1% in Q1 has not been enough to offset concerns about the economic outlook. Inflation eased to 1.9% in May, while the unemployment rate ticked up to 3.5%. Additionally, factors such as the completion of dividend payments by listed companies and the repatriation of funds from prior IPOs are also contributing to diminished demand for HKD.

Looking ahead, analysts predict that USDHKD is likely to remain near the upper half of its peg band. The appeal of carry trades is expected to continue, incentivizing outflows and maintaining pressure on the HKD. Although HKMA interventions could counteract tests of the band’s ceiling, the strength of FX reserves and policy credibility provide some reassurance. However, unless there is a notable shift in global sentiment or a more dovish stance from the Fed, the HKD may continue to stay soft.

Throughout this period, the HKD has demonstrated varied performance against other currencies. It reached 90-day lows against the USD at around 0.1274, slightly below its three-month average, while remaining more stable against the Euro and the pound, with recent highs of 0.1103 and 0.0954 respectively. Notably, the HKD to JPY exchange rate also showed strength, trading at 18.91, which is 1.8% above its three-month average.

In summary, while recent easing of tourism restrictions could provide some support to the local economy, sentiments remain cautious. The future strength of the HKD largely hinges on the trajectory of local economic recovery and the Federal Reserve’s upcoming policy decisions.

 

US dollar to Hong Kong dollar - USD/HKD Trend

 
USD to HKD is at 90-day highs near 7.8502, just above its 3-month average, having traded in a stable 1.3% range from 7.7500 to 7.8502
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Top HKD Rates


Hong Kong dollar to US dollar
HKDUSD 90 day chart

HKD to USD is at 90-day lows near 0.1274, just below its 3-month average, having traded in a stable 1.3% range from 0.1274 to 0.1290
HKD to USD
0.1274
90d-lows

Hong Kong dollar to Euro
HKDEUR 90 day chart

HKD to EUR is at 30-day highs near 0.1103, just 0.7% below its 3-month average of 0.1111, having traded in a relatively stable 7.3% range from 0.1079 to 0.1158
HKD to EUR
0.1102
+0.4%
30d-highs

Hong Kong dollar to Canadian dollar
HKDCAD 90 day chart

HKD to CAD at 0.1754 is near its 3-month average, having traded in a very stable 3.8% range from 0.1729 to 0.1794
HKD to CAD
0.1754
+0.2%

Hong Kong dollar to British pound
HKDGBP 90 day chart

HKD to GBP is at 60-day highs near 0.095413, just 0.6% above its 3-month average of 0.094786, having traded in a quite stable 5.1% range from 0.092673 to 0.097411
HKD to GBP
0.095378
60d-highs

Hong Kong dollar to Indian rupee
HKDINR 90 day chart

HKD to INR is at 90-day highs near 11.09, 1.3% above its 3-month average of 10.95, having traded in a very stable 2.1% range from 10.86 to 11.09
HKD to INR
11.09
+0.4%
90d-highs

Hong Kong dollar to Japanese yen
HKDJPY 90 day chart

HKD to JPY at 18.91 is 1.8% above its 3-month average of 18.57, having traded in a quite stable 4.8% range from 18.19 to 19.06
HKD to JPY
18.87
-0.1%

Hong Kong dollar to Australian dollar
HKDAUD 90 day chart

HKD to AUD at 0.1955 is just 0.6% below its 3-month average of 0.1967, having traded in a quite stable 4.7% range from 0.1929 to 0.2019
HKD to AUD
0.1955
+0.1%

Hong Kong dollar to Singapore dollar
HKDSGD 90 day chart

HKD to SGD at 0.1640 is near its 3-month average, having traded in a quite stable 4.4% range from 0.1620 to 0.1692
HKD to SGD
0.1639
+0.1%
30d-highs

Hong Kong dollar to Chinese yuan
HKDCNY 90 day chart

HKD to CNY is at 7-day highs near 0.9144, just below its 3-month average, having traded in a very stable 3.2% range from 0.9118 to 0.9413
HKD to CNY
0.9142

A-Z


Hong Kong dollar to Australian dollar
HKDAUD 90 day chart

HKD to AUD at 0.1955 is just 0.6% below its 3-month average of 0.1967, having traded in a quite stable 4.7% range from 0.1929 to 0.2019
HKD to AUD
0.1955
+0.1%

Hong Kong dollar to Chinese yuan
HKDCNY 90 day chart

HKD to CNY is at 7-day highs near 0.9144, just below its 3-month average, having traded in a very stable 3.2% range from 0.9118 to 0.9413
HKD to CNY
0.9142

Hong Kong dollar to British pound
HKDGBP 90 day chart

HKD to GBP is at 60-day highs near 0.095413, just 0.6% above its 3-month average of 0.094786, having traded in a quite stable 5.1% range from 0.092673 to 0.097411
HKD to GBP
0.095378
60d-highs

Hong Kong dollar to Indian rupee
HKDINR 90 day chart

HKD to INR is at 90-day highs near 11.09, 1.3% above its 3-month average of 10.95, having traded in a very stable 2.1% range from 10.86 to 11.09
HKD to INR
11.09
+0.4%
90d-highs

Hong Kong dollar to Malaysian ringgit
HKDMYR 90 day chart

HKD to MYR is at 7-day highs near 0.5396, just 0.6% below its 3-month average of 0.5426, having traded in a quite stable 4.1% range from 0.5347 to 0.5564
HKD to MYR
0.5395
+0.1%

Hong Kong dollar to Philippine peso
HKDPHP 90 day chart

HKD to PHP at 7.2964 is 1.6% above its 3-month average of 7.1824, having traded in a very stable 3.4% range from 7.0624 to 7.3034
HKD to PHP
7.3005
+0.2%

Hong Kong dollar to Pakistani rupee
HKD to PKR at 36.07 is just below its 3-month average, having traded in a stable 1.3% range from 35.92 to 36.37
HKD to PKR
36.07
30d-lows

Hong Kong dollar to Singapore dollar
HKDSGD 90 day chart

HKD to SGD at 0.1640 is near its 3-month average, having traded in a quite stable 4.4% range from 0.1620 to 0.1692
HKD to SGD
0.1639
+0.1%
30d-highs

Hong Kong dollar to Thai baht
HKDTHB 90 day chart

HKD to THB at 4.1250 is 1.1% below its 3-month average of 4.1712, having traded in a quite stable 5.7% range from 4.0984 to 4.3304
HKD to THB
4.1293
-0.2%