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  • 1 Post By Pauljoecoe
  • 1 Post By Mr Chips

HKD to GBP X-change rate stable...?

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  1. #1

    Join Date
    Oct 2019
    Location
    Tuen Mun
    Posts
    503

    HKD to GBP X-change rate stable...?

    I left Hong Kong a couple of months back and still have a few things winding down meaning I'm still receiving lumps of HK dollars and that will continue until the summer...

    These 'lumps' range from trivial, $500 up to $50000 (non-trivial to me!)...

    As it stands now, I'm transferring the amounts weekly to my Revolut! account in the UK but I've notice that a couple of weeks back I got, say, 1150 quid for HKD10k but today it seems almost even, 1050 quid for HKD10k...

    I know you guys who make your $$$s are probably laughing at me... is it just dumb luck or is there some way to minimise this problem?

    Is this usual fluctuation or is this downward trend something that's likely to continue?


  2. #2

    Join Date
    Aug 2017
    Posts
    916

    Yes the pound has been strengthening in the last week. I was going to transfer some money over this week but missed the boat and will wait now.

    We will have some very significant sums (for us) comin into our HK accounts in the next 2 months but fortunately don’t need to access them so I will leave it sitting in my HK account and watch the pound/HKD rate. Hopefully at some point in the next few months it may improve again. (Having said that it’s not as bad as it has been over the last year or so, so who knows it could continue to fall)

    Mr Chips likes this.

  3. #3

    Join Date
    Jun 2017
    Posts
    44

    Note that the HK dollar is pegged to the US dollar — since 1983 it's been 7.8 HKD per USD (to be precise, it trades within a very narrow band of 7.75-7.85 HKD per USD).

    So, unless they change that peg, the HKD/GBP exchange rate is almost completely determined by the USD/GBP exchange rate.


  4. #4

    Join Date
    Feb 2019
    Posts
    579
    Quote Originally Posted by Mr Chips:
    As it stands now, I'm transferring the amounts weekly to my Revolut! account in the UK
    Does Revolut do HKD accounts now?

  5. #5

    Join Date
    Oct 2019
    Location
    Tuen Mun
    Posts
    503
    Quote Originally Posted by GentleGeorge:
    Does Revolut do HKD accounts now?
    I opened it in the UK but it has a HKD account inside... it's really easy to use... all on mobile.
    GentleGeorge likes this.

  6. #6

    Join Date
    Feb 2019
    Posts
    579
    Quote Originally Posted by Mr Chips:
    I opened it in the UK but it has a HKD account inside... it's really easy to use... all on mobile.
    Nice, I hadn't checked before but now I see I can open one as well.

    Any idea how the rates they charge compare to TransferWise and other providers?

    No wonder Travelex went bust, the number of cheaper and better solutions for moving FX around is growing really fast.