Hong Kong dollar – HKD.

Hong Kong has long been a major financial center, home to one of the largest stock exchanges, numerous banks, and offices of major corporations.

It would be surprising if Hong Kong's currency wasn't in demand as a means of payment and wasn't freely convertible.

The Hong Kong dollar is the leading currency for settlements in Asia, is actively bought and sold on the foreign exchange market, and enjoys relatively high liquidity.

Hong Kong's currency has existed for over 100 years. It is currently issued by two private banks and the Bank of China, which also controls the money supply.

Banknotes in denominations of 10, 20, 50, 100, 500, and 1000 are in circulation, along with cent coins of 10, 20, and 50 cents.

The Hong Kong dollar is closely pegged to the US dollar, moving within a narrow range of 7.75 to 7.85 Hong Kong dollars to one US dollar.

This ratio is indicated by the USDHKD exchange rate , which is used in forex trading.

Trading the Hong Kong dollar

is quite simple, as the exchange rate is locked into a narrow range. Simply wait for the USDHKD exchange rate to approach the low or high point and then trade in the opposite direction. In such a situation, market makers will begin to play bullish or bearish to prevent the currency from leaving the price corridor .

For example, the Hong Kong dollar is currently trading at 7.75211, which is practically the lower limit. This means the price is likely to rise in the near future, so we open a buy trade.

scalping trades are not entirely profitable .