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Hong Kong dollar
Hong Kong officially uses the Hong Kong dollar as the local currency. 1 dollar is divided into 100 cents.
Currency regime
The Hong Kong Monetary Authority (HKMA) manages the currency very tightly against the US currency, although it is not actually a currency-board system. This used to be a a fixed rate of 7.80 against the US dollar, but in May 2005, the HKMA changed this so that there is now a 7.75-7.85 permitted band.
Commercial rates
As at February 3 2006, the Hong Kong dollar was trading around 7.76 against the US dollar, 9.36 against the Euro and 13.8 against Sterling.
Tourist rates
On February 3 2006 the Hong Kong dollar was valued at around 13.22 against Sterling. For 1 UK pound you will, therefore, receive around 13.22 Hong Kong dollars.
Travellers cheques are best taken in Hong Kong dollars
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