Silver Price in Hong Kong Dollars

The Hong Kong dollar is the official currency of Hong Kong. A former British colony, Hong Kong is now a special economic zone of China. China recovered Hong Kong in 1997 but has not required the use of the yuan.

The British failed numerous times at trying to create an independent currency for Hong Kong. The Hong Kong dollar in use today was adopted in 1935 when England abandoned the silver standard. Before 1935, a mixed bag of currencies including the pound sterling, spanish dollar and mexican peso were being used in Hong Kong. The Hong Kong dollar at first was pegged to silver. It was later pegged to the US dollar.

The Hong Kong Monetary Authority acts as the central bank of Hong Hong. The Authority issues currency along with private banks. By law all Hong Kong dollars printed must be backed up by US dollar deposits in the banks. The exchange rate with the US dollar is regulated by the government.

Silver prices in Hong Kong dollars hover around $250 per ounce.