This is the current USD-HKD mid-market exchange rate. The Total Cost of buying foreign currency in the above table is calculated as the sum of all fees and the exchange rate margin, which is the difference between the provider's exchange rate and the mid-market USD-HKD exchange rate.
Whenever you are researching a particular exchange rate you are actually interested in two currencies as the value of a currency must always be quoted relative to a second currency.
So it follows that if you are determining the best time to transact, in this case the USD vs HKD, you should pay attention to both United States Dollar and Hong Kong Dollar news and forecasts.
In the third week of April the Dollar Index was rallying strongly towards the mid-97s, slightly below major resistance at 97.70, a break of which would be massively positive for the greenback. The index was up 1.7 percent year-to-date.
The dollar’s strength comes in spite of a dovish surprise in March from the Federal Reserve, which ditched two interest rate hikes from its 2019 projections. Fortunately for dollar holders, the rest of the world has problems and other important central banks also turned dovish, removing much of the incentive for selling USD.
Bloomberg research warned in April of potential for a large upcoming move in the US dollar, up or down. Over the past quarter-century, three prominent troughs in the JPMorgan Global FX Volatility Index were followed by dollar moves over 6-month periods worth 10-15 percent. The index was trading in mid-April at a 5-year low.
Against USD, the Hong Kong dollar continues to trade along the weaker boundary of its allowed trading range, at HK$7.85.
Against other major currencies, the Hong Kong dollar quickly recovered from a sharp sell-off on March-20 when the US Federal Reserve (whose actions on monetary policy Hong Kong’s central bank must follow) slashed two interest rate hikes from its 2019 projections.
Medium-term, against a basket of currencies, HKD remains at elevated levels (roughly 10 percent above 2018 lows). Long-term, HKD is trading more or less in the centre of its 2017-2018 range.
Earlier this year, ING said that the US dollar, and therefore HKD, would soon “embark on a gradual long-term bearish trend”; CIBC said something similar.
Sorry, our travel money calculators are currently only available for comparing exchange rates rates for buying foreign cash and travel money in Australia, Canada, France, Germany, Netherlands, New Zealand, United Kingdom and the USA.