The currency unit is the Hong Kong Dollar (HK$). There is no central bank in Hong Kong, however, the Government, through the Hong Kong Monetary Authority, has given authorization to three commercial banks, The Hongkong and Shanghai Banking Corporation Ltd.(HSBC), the Standard Chartered Bank, and the Bank of China (Hong Kong) Limited, to issue currency notes in Hong Kong . The currency notes come in the following denominatons: HK$1,000, HK$500, HK$100, HK$50, HK$ 20 and HK$10. In 2002, the Government issued a new ten dollar note in recognition of a continuing demand among the public for a note in addition to the coin.
Coins include HK$10, HK$5, HK$2, HK$1, and 50 cents, 20 cents and 10 cents.
Under the Linked Exchange Rate system, Hong Kong Dollar is pegged to the US$ at a rate of roughly US$1:HK$7.8.
Credit cards are used in Hong Kong with a vengeance: Visa, MasterCard, American Express and Diner's Club are accepted at most hotels, shops and restaurants. Traveller's cheques are accepted by banks and money changers.