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HKD/GBP exchange rate...

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  1. #1

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    HKD/GBP exchange rate...

    I have a lot of money to transfer to the UK ...mpf, leaving bonuses for me and the wife.

    Exchange rate is going in the wrong direction. What's the reason....weak HKD, weak USD, strong pound?

    (Be gentle with me, a bit of a numpty on money exchange matters!

    KEM.UK likes this.

  2. #2

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    nobody can tell.. just change once you have your cash and forget about the rates..

    everyone been saying all kinds of things.. look at kyle bass he dumped in a few hundred million usd to bet it going his way but he has been wrong so far...


  3. #3

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    Dollar weakness... check out the EURUSD exchange rate, it's gone exactly the same direction

    HKD is tightly pegged to USD so that's the main driver

    And it's getting me too, was also about to buy a lot of £££!


  4. #4

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    If Sterling is weakening it is because of Brexit (not the humming money printing presses)

    If Sterling strengthens it's....

    Against a basket of currencies it is about the same as 20 years ago

    https://fred.stlouisfed.org/series/DTWEXM


  5. #5

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    From what I am reading, its one reason and that is USD being out of flavor. Too much money printing, and COVID impact in the US, big boys are not keen on USD anymore.

    HKD is pegged to US, so we don't generally see any moves.

    A month ago, 1 GBP would buy you 1.25 USD. 1.25 USD would then buy you 1.25 * 7.75 = 9.6875 HKD
    Today, 1 GBP buys me 1.30 USD which then buys me 1.30 * 7.75 = 10.75 HKD

    UK hasn't done anything phenomenal to warrant an upgrade, Brexit drama still persists, or one could say, they avoided blindly following the Orange Man and that needs to be rewarded.

    shri likes this.

  6. #6

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    damm 1 GBP = 10.313829195 HKD as per current HSBC, luckily I bought some (not a lot) when it was around 9.6-7 mark. One of my colleagues earlier in march when it dipped below 9HK mark, bought like 30K GBP in one go, lucky basteward lol

    Dammit I should have changed some more aiya but loosing a few 100 quid during exchange is not the end of the world if you are going to do a big exchange.


  7. #7

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    Quote Originally Posted by freeier:
    nobody can tell.. just change once you have your cash and forget about the rates..

    everyone been saying all kinds of things.. look at kyle bass he dumped in a few hundred million usd to bet it going his way but he has been wrong so far...
    Nope - not my style. A few weeks ago I transferred 100,000 HKD and got £10373. Today I would get £9860. Thats £500 less. I have quite a lot more than that to move now and more coming in the next month. So we are talking £3000 or so loss. And that was from when the HKD was only reasonably good not high flying. If the HKD's have to sit in my account for 6 months waiting for an improvement it's worth it. The money is not needed at the moment. Not sure investing in the UK would give that return in 6 months?
    GentleGeorge likes this.

  8. #8

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    Good luck Pauljoecoe!


  9. #9

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    @Pauljoecoe I don't know how long GBP will remain weak. If there is any weight on financial news, the deadline on Brexit will help GBP to strengthen. Deal or no deal closure, no further extension that Johnson has said was excellent news for everyone coz that gave corporations a direction.

    Current improvement is due to USD weakening, but once the breakup is sealed GBP may start to appreciate.


  10. #10

    Join Date
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    Quote Originally Posted by freeier:
    nobody can tell.. just change once you have your cash and forget about the rates..
    .
    agree. whatever the prevailing rate is at any given moment is fair, no matter how it compares historically as relatively weak or strong. just know it has as good a chance to go further south as it has to go in your favour so it really just boils down to a gamble. no compelling reason why prices must revert to a mean we impose on it.

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