You've just landed at Chek Lap Kok, the air is thick with humidity, and your first thought isn't the Dim Sum—it’s the cash. Or the lack of it. Walking through the arrivals hall, you'll see a dozen signs for "Money Exchange," but honestly, most people get the currency in Hong Kong all wrong before they even leave the airport.
Hong Kong is a weird, beautiful hybrid. It’s part of China, but the Chinese Yuan (RMB) won't get you very far here. You need the Hong Kong Dollar (HKD). It’s been this way since the mid-19th century when the city was a budding free port and local merchants got tired of weighing silver Spanish 8 Reales or Indian rupees just to buy some tea.
Today, the HKD is one of the most traded currencies on the planet.
The Weird World of Three Different Banknotes
If you withdraw $500 from an ATM, don’t freak out if the notes don't look the same. Unlike the US or the UK, where one central bank prints everything, Hong Kong lets three different commercial banks issue their own money.
- HSBC (The big player)
- Standard Chartered
- Bank of China
Because of this, you might have three different-looking $100 bills in your wallet at once. They are all 100% legal tender. The only exception is the purple $10 note, which is issued directly by the Hong Kong Government.
The designs are actually pretty cool. They’ve got everything from traditional tea culture and Cantonese opera to the futuristic skyscrapers that define the skyline. If you look closely at the older HSBC notes, you’ll see the famous lions, Stephen and Stitt, who guard their headquarters in Central.
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Why the Exchange Rate Never Really Moves
You might notice that the currency in Hong Kong stays remarkably stable against the US Dollar. That’s not a coincidence. Since 1983, the HKD has been "pegged" to the Greenback.
Basically, the Hong Kong Monetary Authority (HKMA) keeps the rate within a tight band of $7.75 to $7.85 HKD for every 1 USD. If it drifts too far, the HKMA steps in and buys or sells billions to fix it. For you, this means if you’re coming from the US, the math is easy. If you’re coming from elsewhere, you don’t have to worry about the currency crashing overnight while you’re asleep in your hotel in Tsim Sha Tsui.
As of early 2026, the rate is hovering right around $7.80 HKD to $1 USD.
Do You Actually Need Physical Cash?
Honestly? Kinda.
Hong Kong is a high-tech city, but it has a deep sentimental (and practical) attachment to paper and metal. You can’t just swipe your Visa at a traditional dai pai dong (open-air food stall) or a tiny family-run shop in Sham Shui Po. They want cash. Period.
The Octopus Card: The Real King of HK
If you want to live like a local, you need an Octopus Card. It’s arguably the most successful smart card system in the world. You don’t just use it for the MTR (the subway) or the iconic Star Ferry. You use it for:
- 7-Eleven and Circle K runs.
- Vending machines.
- Most fast-food joints like Maxim’s or Café de Coral.
- Supermarkets like Wellcome or PARKnSHOP.
You can now even put a digital Octopus on your iPhone or Apple Watch. It’s a lifesaver. You just tap and go. No fumbling with those tiny 10-cent bronze coins that seem to multiply in your pockets like rabbits.
Taxis and the Change Struggle
Taxis are where the currency in Hong Kong gets annoying. While many now accept AlipayHK or WeChat Pay HK, a huge chunk of the "red taxis" still only take cash.
And here’s a pro tip: don’t try to pay for a $30 taxi ride with a $1,000 bill. Most drivers won't have the change, and they’ll get pretty grumpy about it. Keep a stack of $20s and $50s for your rides. The $1,000 "yellow" notes are nicknamed "Big Gold Fish," and while they're pretty, some smaller shops actually refuse to take them because of counterfeit fears or just lack of change.
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Where to Get the Best Rates
Avoid the airport exchange booths if you can help it. Their margins are usually daylight robbery. Instead, head to Chungking Mansions in Tsim Sha Tsui.
It looks intimidating—a sprawling, chaotic building full of guesthouses and curry shops—but the ground floor is packed with independent money changers. They often offer the best rates in the city. Just walk past the first few stalls near the entrance (which have higher overhead) and look for the ones deeper inside.
If you prefer something less "adventurous," any ATM from a major bank like HSBC or Hang Seng will give you a fair market rate, provided your home bank doesn't hit you with massive international fees.
Digital Wallets: The 2026 Landscape
As we’ve seen in the last couple of years, the city has moved fast toward mobile payments. AlipayHK and WeChat Pay HK are everywhere now. Even the wet markets (where people buy fresh fish and veggies) often have QR codes pinned to the stalls.
If you’re visiting from Mainland China, your regular Alipay works fine and converts the currency automatically. For Western travelers, you can link your credit card to these apps, but the Octopus is still the most universally accepted "non-cash" method for the small stuff.
Practical Steps for Your Trip
- Get an Octopus Card immediately. You can buy one at the Airport Express counter. Put at least $200–$300 HKD on it to start.
- Carry some "Small Money." Always keep a few $20 and $100 notes. Use your $500 notes at big chains like Starbucks or Uniqlo to break them into smaller change.
- Download the "HKD to [Your Currency]" converter. Since the peg is stable, you’ll quickly memorize that $100 HKD is roughly $13 USD or €12.
- Check your coins. The $10 coin is thick and has a bronze center with a silver rim. It’s heavy. Don’t confuse it with the $1 or $2 coins when you’re in a rush.
- Notify your bank. Hong Kong ATMs are secure, but they will trigger fraud alerts faster than a New Year’s firework if you haven't told your bank you're traveling.
Hong Kong is a place where you can buy a $50,000 watch with a credit card and then spend $12 on a pineapple bun using a coin that’s been in circulation since 1975. Understanding how the currency in Hong Kong flows between the digital and the physical will save you a lot of headaches on the MTR.