Hong Kong, a global financial hub and a popular tourist and business destination, boasts a bustling economy and a vibrant culture. Consequently, it’s well-equipped to handle various currencies. However, not all currencies are widely accepted in Hong Kong. Travelers and businesses dealing with less common currencies may encounter challenges. In this blog, we’ll delve into which currencies are not widely accepted in Hong Kong and provide guidance on navigating these situations.
Why Some Currencies Are Not Widely Accepted in Hong Kong
Hong Kong’s primary currency is the Hong Kong Dollar (HKD). It is the primary medium of exchange in the city. While other major currencies such as the US Dollar (USD), Euro (EUR), British Pound (GBP) are easily exchangeable in Hong Kong, less common currencies are not accepted due to various factors such as:
1. Low demand: These less common currencies are from less-traveled countries. This makes hard for exchange services to stock them.
2. High Volatility: Currencies which are unstable in terms of exchange rate and high inflation are avoided due to the risk of depreciation.
3. Limited Recognition: Some currencies are not internationally recognized or are restricted by local regulations, which limits their recognition and usage.
Currencies not accepted in Hong Kong
Here are some examples of currencies that are not widely accepted in Hong Kong:
1. African Currencies
- Moroccan Dirhams (MAD)
- Nigerian Nira (NGN)
- Kenyan Shilling (KES)
- Zambian Kwacha (ZMW)
- Sudanese Pound (SDG)
- Tunisian Dinar (TND)
- Namibian Dollar (NAD)
- Ugandan Shilling (UGX)
- Mauritian Rupee (MUR)
- Rwandan Franc (RWF)
- Botswana Pula (BWP)
- Sierra Leonean Leone (SLE)
- Zimbabwean Dollar (ZWL)
2. South Asian Currencies
- Bangladeshi Taka (BDT)
- Bhutanese Ngultrum (BTN)
- Maldivian Rufiyaa (MVR)
- Afghan Afghani (AFN)
3. Middle Eastern Currencies (least Common)
- Iraqi Dinar (IQD)
- Yemeni Rial (YER)
- Syrian Pound (SYP)
- Lebanese Pound (LBP)
- Egyptian Pounds (EGP)
- Jordanian Dinar (JOD)
4. Pacific Island Currencies
- Fijian Dollar (FJD)
- Solomon Islands Dollar (SBD)
- Samoan Tala (WST)
- Lebanese Pound (LBP)
- Vanuatu Vatu (VUV)
5. Central and South American Currencies
- Argentine Peso (ARS)
- Venezuelan Bolívar (VES)
- Colombian Peso (COP)
- Costa Rican Colón (CRC)
- Brazilian Reais (BRL)
- Venezuelan Bolívar (VES)
- Nicaraguan Córdoba (NIO)
6. Restricted or Non-Convertible Currencies
- North Korean Won (KPW)
- Cuban Pesos (CUP)
- Iranian Rial (IRR)
What to Do If You Have These Currencies
- Exchange Before Traveling: Convert your currency to a major one like USD, EUR, or GBP before arriving in Hong Kong.
- Contact Specialized Exchange Services: Some banks or currency exchange providers may handle these currencies, but you’ll need to arrange it in advance.
The above are a few examples of currencies which are not exchanged in Hong Kong. This is NOT a complete list of currencies. It is better to contact us or other exchange services to know more about this before you travel to Hong Kong.
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