There are three important types of information that you need to know if you are to have any chance of getting the
best possible HKD / AUD rate :
Find the Market HKD to AUD mid-rate - the starting point.
Check your FX provider's transaction costs, these include exchange rate margins plus various types of fees. These margin and fee costs vary for
Foreign Transfers
and
Travel Money
transactions.
The closer your final exchange rate is to the market HKD/AUD midrate the better deal you are getting.
1 Hong Kong dollar equals Australian dollar
1HKD=AUD
Right now the HKD/AUD market rate is
and represents how many
Australian dollar
you can get for one Hong Kong dollar.
The HKD/AUD mid-rate is the rate you will see
Quoted on Google
or the News, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. The closer your final exchange rate is to the market HKD/AUD midrate the better deal you are getting. It is actually just the theoretical half-way point (hence mid-rate) between
the last rate at which the currencies were exchanged in a transaction (bought or sold) in the international markets.
Hong Kong dollar to Australian dollar (HKD-AUD) Recent History
When
Exchange Rate
Date
1 Week ago
0.1636
18 Apr 2018
1 Month ago
0.1643
26 Mar 2018
6 Months ago
0.1669
27 Oct 2017
1 Year ago
0.1705
25 Apr 2017
2 Years ago
0.1672
25 Apr 2016
5 Years ago
0.1253
26 Apr 2013
10 Years ago
0.1376
27 Apr 2008
There are three important types of information that you need to know if you are to have any chance of getting the
best possible HKD / AUD rate :
Market HKD to AUD mid-rate - the starting point.
Transaction costs, these include exchange rate margins plus various types of fees. These margin and fee costs vary for
Foreign Transfers
and
Travel Money
transactions.
Right now the HKD/AUD market rate is
and represents how many
Australian dollar
you can get for one Hong Kong dollar.
The HKD/AUD mid-rate is the rate you will see
Quoted on Google
or the News, nobody except the largest banks and businesses can get exchange rates close to this mid-rate. It is actually just the theoretical half-way point (hence mid-rate) between
the last rate at which the HKD / AUD was traded (bought or sold) in the international markets.
2. Transaction Costs - Margins and Fees for HKD/AUD Foreign Exchange
The transaction margin from the mid-rate you will be charged by your bank or foreign exchange provider plus any fixed or percentage fees. These margins and fees will vary significantly for International Money Transfers and Travel Money transactions.
HKD to AUD Foreign Transfer - Costs Compared
You can see a sample of the margins from mid-rate in the table below which shows an example of the costs charged by FX specialist and the average bank rate when sending money transfers from HKD to AUD.
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This is the amount of money that could be received by your transfer at rate HKD/AUD=0.1652 and inclusive of the fee of HKD 60. Rate timestamp : Wed Apr 25 2018 14:21:54 GMT+0000 (UTC)
This is the average HKD to AUD International Transfer exchange rate and fees from multiple banks for FX rates available over the counter and also via Internet Banking.
The below table shows an example of the margins and possible savings when you order travel money online with a currency specialist versus the average bank, kiosk or post office rate to buy foreign cash.
Getting a good market rate is mainly about timing however the transaction margin
you end up being charged can be considerably reduced by around a few percent (of total amount being exchanged) for
travel money
and possibly over 5% to 6% when sending money.
The exact potential savings depends on the currencies being exchanged and the amount
you are transferring and if you are willing to shop around.
Why can't I just get the same HKD/AUD market rate I see on Google or in the Media?
When you look up the current Hong Kong dollar to Australian dollar exchange rate on the web the figure you find quoted on sites like google or mentioned on TV is commonly referred to as the mid-market rate.
Getting a great HKD to AUD mid-market rate is all about timing, so unless you
are able to wait, watch and time the market this is largely beyond your control.
This rate will go up and down with varying amounts of volatility depending on the currency pair.
This mid-market rate is really only a reference and is just the starting point for calculating the actual rate you will
get for your transaction, luckily we can also use this same rate to determine how good a deal a rate that a provider offers you actually is.
You can use the below
HKD to AUD calculator to convert currency amounts using the latest mid-market exchange rates.
Then choose your transaction type for specific Hong Kong dollar cross rates and reviews of leading foreign exchange providers versus the Banks.
3. Currency News, Research and Forecasts for Hong Kong dollar and Australian dollar
Whenever you are interested in an exchange rate you are actually interested in two currencies due to the fact that the value of a currency is always determined quoted in comparison to another currency.
So it follows that if you are determining the best time to transact, in this case the HKD vs AUD, you should pay attention to both Hong Kong dollar and Australian dollar news and forecasts.
Hong Kong dollar (HKD) - Market news and forecasts
In March, the Hong Kong dollar weakened to the extreme of its allowed trading range, at 7.85 per US dollar, marking the point at which the Hong Kong Monetary Authority must step in to defend the currency.
The Hong Kong dollar has fallen to multi-decade lows due to a widening of the US-Hong Kong interest rate differential. Despite the HKMA raising interest rates in step with the US Federal Reserve, rates paid on Hong Kong dollars have remained low over the past fifteen months due to abundant liquidity in Hong Kong’s financial system; meanwhile, rates paid on US dollars have risen steadily. For large investors, this provides an incentive to exchange (sell) borrowed Hong Kong dollars for higher-yielding US dollars.
Due to Hong Kong’s sizeable foreign exchange reserves, which are among the largest in the world, a speculative attack on the USD/HKD peg is unlikely.
In March, the Hong Kong dollar also stood close to long-term lows against both the Japanese yen and euro.
Australian dollar (AUD) - Market news and forecasts
The Australian dollar took a hit in February and March, during which it gave up 4% of its value against the US dollar, and it continues to struggle in April.
In the third week of April, a rather dovish set of RBA meeting minutes eliminated gains made during a modest recovery period earlier in the month and the Aussie was once again in the mid-0.76s versus USD – it had been as high as 0.813 in January – and was close to long-term lows against the euro, in the low 0.62s.
Over the medium term, the Australian dollar is likely to receive support from commodities, which will continue to rally according to a PIMCO analyst. Speaking in April, the analyst said that commodities “would shine” given the transition to an environment in which low and stable inflation is preferable.
Any support lent by commodities will, however, be offset by a central bank that sees little reason for a near-term increase in interest rates and by uncertainties surrounding a potential US-China trade war. Trade tensions were at least eased when at the Boao Forum in April, Chinese President Xi Jinping spoke of the need to ease tariffs and further open up China’s economy.
In March, the median estimate of analysts polled by Reuters had AUD/USD at 0.78 at year-end.
