Hong Kong Dollar (HKD) and Canandian Dollar (CAD)
There are many Hong Kongers working and studying in Canada. In major cities like Vancouver and Toronto, it is common to find Chinese who speaks Cantonese, which is the language used nationally by Hong Kong.
With such close ties between these 2 countries (at least for Hong Kongers), the exchange rate between the Hong Kong Dollar (HKD, “Hongkers”) and the Canadian Dollar (CAD, “Loonie”) is therefore something that requires special attention.
The exchange rate between the Hong Kong Dollar compared against the Canadian Dollar is actually simpler than what most people imagine. The Hong Kong Dollar is pegged within a trading band with the US Dollar, with a lower limit of 7.85 HKD = 1 US Dollar and a higher limit of 7.75 HKD = 1 US Dollar. As the variance is small (1.29%), it is usually sufficient for the average Hong Konger to pay attention to just the exchange rate between the US Dollar and the Canadian Dollar instead.
The comparison is also made easier by the fact that Canadian Dollar and the US Dollar are (more…)
