Hong Kong dollar in the context of "Dollar"

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⭐ Core Definition: Hong Kong dollar

The Hong Kong dollar (Chinese: 港元, sign: HK$; code: HKD) is the official currency of Hong Kong. It is divided into 100 cents. Historically, it was also divided into 1000 mils. The Hong Kong Monetary Authority is the monetary authority of Hong Kong and the Hong Kong dollar.

Three commercial banks are licensed by the Hong Kong Monetary Authority to issue their own banknotes for general circulation in Hong Kong. These banks — HSBC, Bank of China, and Standard Chartered — issue their own designs of banknotes in denominations of HK$20, HK$50, HK$100, HK$150, HK$500, and HK$1000, with all designs being similar to one another in the same denomination of banknote. However, the HK$10 banknote and all coins are issued by the Government of Hong Kong.

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👉 Hong Kong dollar in the context of Dollar

Dollar is the name of more than 25 currencies. The United States dollar, named after the international currency known as the Spanish dollar, was established in 1792 and is the first so named that still survives. Others include the Australian dollar, Brunei dollar, Canadian dollar, Eastern Caribbean dollar, Hong Kong dollar, Jamaican dollar, Liberian dollar, Namibian dollar, New Taiwan dollar, New Zealand dollar, Singapore dollar, Trinidad and Tobago dollar, and several others. The symbol for most of those currencies is the dollar sign $; the same symbol is used by many countries using peso currencies.

The name 'dollar' originates from the tolar which was the name of a 29-gram (1.0 oz) silver coin called the Joachimsthaler minted in 1519 in the western part of Bohemia (now the Czech Republic). The word thaler itself comes from the German word Thal, i.e. 'valley'.

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Hong Kong dollar in the context of Economy of Hong Kong

The economy of Hong Kong is a highly developed free-market economy. It is characterised by low taxation, almost free port trade and a well-established international financial market. Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, and is pegged to the US dollar. Interest rates are determined by the individual banks in Hong Kong to ensure that they are market driven. There is no officially recognised central banking system, although the Hong Kong Monetary Authority functions as a financial regulatory authority.

Its economy is governed under positive non-interventionism, and is highly dependent on international trade and finance. For this reason it is regarded as among the most favorable places to start a company. In fact, a recent study shows that Hong Kong has come from 998 registered start-ups in 2014 to over 2800 in 2018, with eCommerce (22%), Fintech (12%), Software (12%) and Advertising (11%) companies comprising the majority. The Economic Freedom of the World Index lists Hong Kong as the freest economy, with a score of 8.58 based on data from 2022.

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Hong Kong dollar in the context of Hong Kong College of Medicine for Chinese

The Li Ka Shing Faculty of Medicine (branded as HKUMed) is a faculty offering healthcare education at the University of Hong Kong (HKU), a public research university. It was founded in 1887 as the Hong Kong College of Medicine for Chinese, the city's first western medical school and one of the oldest in the Asia–Pacific region.

The college served as the base for HKU's founding in 1910 and was absorbed to become its first faculty. It has expanded to now consist of multiple schools that provide tertiary programmes in medicine, nursing, pharmacy, and traditional Chinese medicine. English is the medium of instruction for all classes, while Chinese is retained for the teaching of Chinese medicine. It is located several kilometres away from the university's main campus and is near the Queen Mary Hospital, its main teaching facility and research base. The faculty was renamed after businessman and philanthropist Li Ka-shing in 2006 following a HK$1 billion donation.

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Hong Kong dollar in the context of Overprint

An overprint is an additional layer of text or graphics added to the face of a postage or revenue stamp, postal stationery, banknote or ticket after it has been printed. Post offices most often use overprints for internal administrative purposes such as accounting but they are also employed in public mail. Well-recognized varieties include commemorative overprints which are produced for their public appeal and command significant interest in the field of philately.

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