 |
BANKS & CURRENCIES |
|
Banks
Major banks are open from 9am to 4:30pm Monday to Friday, and 9am
to 12:30pm on Saturday. They close on Sundays and public holidays.
Some banks and branches are open slightly longer hours. Some banking
services are not available an hour before closing. |
 |
Automated teller machines (ATMs) can
be found almost everywhere and some HSBC "Electronic Money" machines
provide 24-hour cash withdrawal (HK$) facilities for Visa and MasterCard
holders. American Express cardholders have access to Jetco ATMs and
can withdraw local currency and travellers' cheques at the Express
Cash ATMs in town. |
Currencies
Legal tender is the Hong Kong dollar (HK$). There are 100 cents in
a dollar. Coins, issued by the government, are bronze-coloured for
10 cents, 20 cents and 50 cents; silver-coloured for HK$1, HK$2, and
HK$5; nickel and bronze for HK$10. Notes issued by HSBC and Standard
Chartered Bank have denominations of HK$10, HK$20, HK$50, HK$100,
HK$500, and HK$1,000. The Bank of China issues all of the denominations
except HK$10. |
Since the mid-1980s, the value of the Hong Kong dollar has been pegged
at HK$7.8 to the US dollar, and consequent rates of exchange to other
currencies. However, the market rate exchange to the US dollar fluctuates
marginally. Banks and money changers charge commission. Similarly,
commissions are payable in hotels and major retail outlets which provide
exchange facilities for their customers. As elsewhere, the rates of
exchange for cash and travellers' cheques are marginally different
and coins are not exchangeable. |
 |
 |
The display of net rates of exchange by money changers is a legal
obligation. Visitors are advised to check them - and also the amount
of any additional commission payable for the exchange of travellers'
cheques - before handing over the money for exchange. Receipt notes
must be issued by law. There are no restrictions on currencies being
brought in or taken out of Hong Kong. |
 
  
|
|
 |
