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Money:
The Hong Kong currency is called the Hong Kong Dollar (HKD). The exchange rate of the HKD to the USD (US Dollar) is pegged to the fluctuations of the value of the US dollar. You can find current exchange rates online from xe.com.
I would strongly suggest you have some US money changed to HKD before you go. The average exchange rate is about 7.8 HKD to one USD. Exchanging between $50 to $100 USD before you go should be enough to get you through the first few days. If you can get coins that would be great. Having HKD on hand when you land at Hong Kong International Airport will save you a lot of hassle.
There are plenty of places around the city for you to exchange money. Some banks may not allow you to exchange money there unless you hold an account with them. There are also private stands that will exchange your money for you. Although you'll want to shop around to see who is offering the best exchange rates, and to see if they have a handling charge or not. You'll also be able to change your HKD in to other currencies at these places if you want to do some traveling to other countries while you are over there.
Note: Paying in Cash versus Plastic
It's common practice for shops in Hong Kong to charge an extra 2% over the price stated if you want to pay by credit card (debit card...same thing). This fee is for the processing of the credit payment. Remember though, 90% of everything in HK is negotiable. If you play your cards right, maybe you can get the credit processing fee knocked off. |
