The first paper money in Hong Kong was issued by Credit Suisse Oriental on 1845, but it didn't really circulate universally for a long time. Until 1857, the Hong Kong government allowed payment by paper money, and many banks began to issue paper money one after another. By 1865, the banknotes issued by five banks have been recognized by the Hong Kong government, but the banknotes below 5 yuan cannot be issued unless specially licensed. The actual monetary unit of Hong Kong dollar is1935165438+10 month.

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The vast majority of Hong Kong dollar banknotes are issued by three note-issuing banks under the supervision of the Hong Kong Monetary Authority. The three note-issuing banks include HSBC, Standard Chartered Bank and Bank of China, and the new purple ten-dollar note is issued by the Hong Kong Monetary Authority. Coins are issued by the monetary authorities.

Since 1983, Hong Kong has established a linked exchange rate system linking the issuance of Hong Kong dollars to the US dollar. When issuing any amount of Hong Kong dollars, note-issuing banks must pay US dollars to HKMA at the exchange rate of HK$ 7.80 to US$ 65,438 +0, and record them in the account of the Exchange Fund before printing money. In this way, the US dollars held by the Exchange Fund provide support for the stability of Hong Kong dollar banknotes.

China Bank-China Bank Foreign Exchange Quotation