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USAUD to HKD Exchange Rate
Ahh, Hong Kong: the name translates to “fragrant harbor.” What else do you really need to know?
What influences the AUD/HKD exchange rate?
The Hong Kong Dollar (HKD) is administered by the Hong Kong Monetary Authority. Through a linked exchange system, the HKD can be traded within a narrow band ranging from 7.75 to 7.85 against the U.S. dollar (USD).
Because of this linked exchange system, the fluctuations between the USD and HKD will be maintained within a specific range. But because the AUD and HKD don’t have the same ties to one another, movement within the AUD/HKD exchange rate is based on the value of the USD. AUD/USD valuations are often driven by the AUD’s status as a commodity currency and may fluctuate based on the value of gold, iron ore, and meat as well as perceived slowing, or growth, within critical trade partner, China.
AUD/HKD Snapshot
“Australia's policy toward Hong Kong is underpinned by its substantial commercial interests, and by the presence of a large Australian community living in Hong Kong.” 1
- Australian Consulate-General
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Australia has many commercial interests throughout Hong Kong, including those in accounting, banking, legal, information technology, general trading, retail, and engineering.1
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Australia was 21st on the list of Hong Kong’s biggest trading partners in 2014. Hong Kong ranked 19th on the list of Australia’s biggest trading partners.2
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Major exports from Hong Kong to Australia include photographic equipment, clocks and watches, jewellery, and semi-precious and precious materials, along with edible preparations and products. Hong Kong primarily imports meat and meat preparations, sound recording and telecommunications equipment, and fruits and vegetables from Australia.
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While Hong Kong’s economy is reliant upon service industries, Australia’s economy relies heavily on commodity exports.3
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Learn more about Aussie Dollar forecasts.
Currency Name: Hong Kong Dollar
Currency Code: HKD
Currency Symbol: $
Central Bank: Hong Kong Monetary Authority
Countries Used In: Hong Kong
Major Unit: One Hong Kong Dollar
Minor Unit: One Cent
Note Denominations: $10, $20, $50, $100, $500, $1,000
Coin Denominations: 10¢, 20¢, 50¢, $1, $2, $5, $10
HKD to AUD exchange rate analysis. Check out our daily market analysis to learn the factors influencing the HKD to AUD exchange rate today.
Sources:
1. http://hongkong.china.embassy.gov.au/hkng/relations.html
