US Dollar to Hong Kong Dollar exchange rate history 1981 to 2026: the currency board
One US Dollar bought 5.5901 HKD in 1981 and 7.8320 HKD in 2026. The currency board. The series covers 46 years of annual data.
- 2026 avg
- 7.8320
- year to date
- Highest avg
- 7.8376
- 2018
- Lowest avg
- 5.5901
- 1981
- Traded range
- 5.1270 to 8.7000
- low 1981, high 1983
Source: Federal Reserve H.10 (DEXHKUS). Latest daily observation 2026-10-30.
Annual averages of daily observations.
USD/HKD history: the years that moved the rate
Each event below is dated and tied to one of the currencies in this pair.
- 1983 1983-10-17
Hong Kong dollar pegged to the US dollar
Hong Kong introduced the Linked Exchange Rate System and pegged the Hong Kong dollar at HK$7.80 per US dollar to end a currency crisis.
- 1997 1997-07-02
Thai baht floats and the Asian crisis spreads
Thailand abandoned the baht's dollar peg on 2 July 1997. Pressure spread to other Asian currencies, including the Korean won, Malaysian ringgit, Singapore dollar and Taiwan dollar.
- 2008 2008-09-15
Lehman Brothers files for bankruptcy
The collapse of Lehman Brothers triggered a global financial crisis, a flight into the US dollar and extreme volatility across currency markets.
USD/HKD since 1981
US Dollar to Hong Kong Dollar averaged 5.5901 HKD in 1981 and 7.7956 HKD in 2025, 39.5% higher across 45 complete years.
The annual average has ranged from 5.5901 in 1981 to 7.8376 in 2018. On individual trading days the series reached 5.1270 and 8.7000, a ratio of 1.7 to 1.
Inside the Hong Kong dollar peg
USD/HKD is a peg pair. The Hong Kong dollar has been linked to the US dollar since 1983, trading in a narrow band around HK$7.80 per dollar.
The peg is the dominant fact. The rate is held inside a narrow band, so the annual average moves far less than a free-floating pair. That stability transfers the adjustment to domestic interest rates and the real economy rather than to the exchange rate.
Hong Kong operates a currency board that keeps the Hong Kong dollar in a narrow band around HK$7.80 per US dollar. Over 45 complete years the average moved +39.5%, and the traded range was 5.1270 to 8.7000.
What moves USD/HKD
USD: The US dollar is the world's main reserve currency and the base leg for most foreign exchange trading.
HKD: The Hong Kong dollar has been linked to the US dollar since 1983, trading in a narrow band around HK$7.80 per dollar.
For USD/HKD, the USD leg responds to Federal Reserve policy, US inflation and Treasury yields, safe-haven demand, while the HKD leg responds to US interest rates, Hong Kong Monetary Authority intervention, China sentiment. The exchange rate is the market's attempt to balance the two sets of forces.
The five largest USD/HKD moves
Ranked by absolute year-end change, the five largest moves were 1983 (+20.1%), 1982 (+13.9%), 2017 (+0.8%), 2008 (-0.6%), 1988 (+0.6%). The biggest was 1983, when the rate moved from 6.4800 to 7.7805, a change of 20.1%.
Across 45 complete years the pair rose in 23 and fell in 21. The average annual change was +0.8% with a standard deviation of 3.7 percentage points, which is one way to compare its volatility with other pairs.
USD/HKD by decade
Grouped by decade, the annual average was 7.3041 in 1981-1989 and 7.8027 in 2020-2026. The widest decade-to-decade change was +6.1% between 1981-1989 and 1990-1999, when the average moved from 7.3041 to 7.7486.
The final bucket, 2020-2026, is a partial decade and includes the year-to-date 2026 average. The table below shows every bucket with its high and low, so the short-run moves and the long-run level can be read together.
How to read the USD/HKD data
The annual figures are averages of the daily observations in Federal Reserve H.10 (DEXHKUS). Highs and lows are the most extreme single observations in each calendar year, not intraday highs. No figure on this page is estimated or interpolated.
USD/HKD annual average, 1981 to 2026
Annual average with the full trading range for each year. average high–low range
Source: Federal Reserve H.10 (DEXHKUS). Figures are annual averages of daily observations.
USD to HKD exchange rate by year
Every year since 1981: annual average, the year high and low, the year-end rate, and the change on the previous year.
| Year | Average | High | Low | Year end | Change |
|---|---|---|---|---|---|
| 1981 | 5.5901 | 6.1550 | 5.1270 | 5.6875 | n/a |
| 1982 | 6.0698 | 6.9400 | 5.6650 | 6.4800 | +13.9% |
| 1983 | 7.2570 | 8.7000 | 6.4900 | 7.7805 | +20.1% |
| 1984 | 7.8189 | 8.0500 | 7.7740 | 7.8250 | +0.6% |
| 1985 | 7.7912 | 7.9900 | 7.7290 | 7.8075 | -0.2% |
| 1986 | 7.8038 | 7.8190 | 7.7675 | 7.7915 | -0.2% |
| 1987 | 7.7986 | 7.8220 | 7.7510 | 7.7620 | -0.4% |
| 1988 | 7.8068 | 7.8250 | 7.7690 | 7.8090 | +0.6% |
| 1989 | 7.8008 | 7.8165 | 7.7750 | 7.8070 | -0.0% |
| 1990 | 7.7899 | 7.8170 | 7.7400 | 7.8010 | -0.1% |
| 1991 | 7.7712 | 7.8025 | 7.7155 | 7.7800 | -0.3% |
| 1992 | 7.7402 | 7.7765 | 7.7237 | 7.7430 | -0.5% |
| 1993 | 7.7357 | 7.7650 | 7.7230 | 7.7280 | -0.2% |
| 1994 | 7.7290 | 7.7530 | 7.7225 | 7.7375 | +0.1% |
| 1995 | 7.7357 | 7.7665 | 7.7300 | 7.7323 | -0.1% |
| 1996 | 7.7345 | 7.7440 | 7.7310 | 7.7347 | +0.0% |
| 1997 | 7.7431 | 7.7550 | 7.7275 | 7.7495 | +0.2% |
| 1998 | 7.7467 | 7.7595 | 7.7355 | 7.7476 | -0.0% |
| 1999 | 7.7594 | 7.7814 | 7.7457 | 7.7740 | +0.3% |
| 2000 | 7.7924 | 7.8008 | 7.7765 | 7.7999 | +0.3% |
| 2001 | 7.7997 | 7.8004 | 7.7970 | 7.7980 | -0.0% |
| 2002 | 7.7996 | 7.8095 | 7.7970 | 7.7988 | +0.0% |
| 2003 | 7.7875 | 7.8001 | 7.7085 | 7.7640 | -0.5% |
| 2004 | 7.7891 | 7.8010 | 7.7632 | 7.7723 | +0.1% |
| 2005 | 7.7775 | 7.7999 | 7.7514 | 7.7533 | -0.2% |
| 2006 | 7.7681 | 7.7928 | 7.7506 | 7.7771 | +0.3% |
| 2007 | 7.8016 | 7.8289 | 7.7497 | 7.7984 | +0.3% |
| 2008 | 7.7862 | 7.8159 | 7.7497 | 7.7499 | -0.6% |
| 2009 | 7.7514 | 7.7618 | 7.7495 | 7.7536 | +0.1% |
| 2010 | 7.7687 | 7.8040 | 7.7501 | 7.7810 | +0.3% |
| 2011 | 7.7841 | 7.8087 | 7.7634 | 7.7663 | -0.2% |
| 2012 | 7.7569 | 7.7699 | 7.7493 | 7.7507 | -0.2% |
| 2013 | 7.7565 | 7.7654 | 7.7503 | 7.7539 | +0.0% |
| 2014 | 7.7545 | 7.7669 | 7.7495 | 7.7531 | -0.0% |
| 2015 | 7.7524 | 7.7686 | 7.7495 | 7.7507 | -0.0% |
| 2016 | 7.7620 | 7.8270 | 7.7505 | 7.7534 | +0.0% |
| 2017 | 7.7926 | 7.8267 | 7.7540 | 7.8128 | +0.8% |
| 2018 | 7.8376 | 7.8499 | 7.8043 | 7.8305 | +0.2% |
| 2019 | 7.8351 | 7.8499 | 7.7850 | 7.7894 | -0.5% |
| 2020 | 7.7559 | 7.7951 | 7.7498 | 7.7534 | -0.5% |
| 2021 | 7.7727 | 7.8034 | 7.7515 | 7.7996 | +0.6% |
| 2022 | 7.8306 | 7.8499 | 7.7693 | 7.8015 | +0.0% |
| 2023 | 7.8292 | 7.8499 | 7.7920 | 7.8109 | +0.1% |
| 2024 | 7.8030 | 7.8368 | 7.7617 | 7.7677 | -0.6% |
| 2025 | 7.7956 | 7.8499 | 7.7500 | 7.7833 | +0.2% |
| 2026 YTD | 7.8320 | 7.8486 | 7.7844 | 7.8449 | +0.8% |
1981–2026 · 45 complete calendar years. Annual figures are averages of available daily observations. 2026 is year to date: the average is based on 209 published trading days through 2026-10-30.
Five largest USD/HKD moves
The largest absolute year-end changes in the published series, using complete calendar years only.
- 1983 +20.1% 6.4800 to 7.7805
Year-end rate moved from 6.4800 to 7.7805, a change of 20.1%.
- 1982 +13.9% 5.6875 to 6.4800
Year-end rate moved from 5.6875 to 6.4800, a change of 13.9%.
- 2017 +0.8% 7.7534 to 7.8128
Year-end rate moved from 7.7534 to 7.8128, a change of 0.8%.
- 2008 -0.6% 7.7984 to 7.7499
Year-end rate moved from 7.7984 to 7.7499, a change of 0.6%.
- 1988 +0.6% 7.7620 to 7.8090
Year-end rate moved from 7.7620 to 7.8090, a change of 0.6%.
USD/HKD by decade
Annual averages grouped into decade buckets. The first and last buckets may cover fewer than ten years.
| Period | Average | High | Low | vs previous |
|---|---|---|---|---|
| 1981–1989 | 7.3041 | 8.7000 | 5.1270 | n/a |
| 1990–1999 | 7.7486 | 7.8170 | 7.7155 | +6.1% |
| 2000–2009 | 7.7853 | 7.8289 | 7.7085 | +0.5% |
| 2010–2019 | 7.7800 | 7.8499 | 7.7493 | -0.1% |
| 2020–2026 | 7.8027 | 7.8499 | 7.7498 | +0.3% |
Average of the annual averages in each period. The first and last rows cover partial decades.
USD/HKD history: common questions
What was the USD/HKD rate in 1981?
One USD averaged 5.5901 HKD in 1981, with a range of 5.1270 to 6.1550 and a year-end rate of 5.6875.
What is the lowest USD/HKD rate on record?
The lowest annual average was 5.5901 in 1981. The lowest single observation was 5.1270 in 1981.
What was the biggest single-year move in USD/HKD?
1983 was the largest, at +20.1%. The year-end rate moved from 6.4800 to 7.7805.
How volatile has USD/HKD been?
Across 45 complete years the average annual change was +0.8% with a standard deviation of 3.7 percentage points. The largest drawdown was 1.2%, from 1984 to 1993.
How is the USD/HKD rate calculated?
The annual figures are averages of daily observations in Federal Reserve H.10 (DEXHKUS). Highs and lows are the most extreme single observations in each calendar year.
What is the USD/HKD rate in 2026?
The 2026 average is 7.8320 HKD per USD, based on the year to date. The latest complete year, 2025, averaged 7.7956.
Query any USD/HKD rate since 1981
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--data-urlencode 'date=1983-06-15' 46 years of USD/HKD.
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