How much is the Hong Kong dollar to the Chinese yuan? Latest exchange rate and hot spot analysis
Recently, the fluctuation of the Hong Kong dollar against the RMB exchange rate has attracted market attention. This article will combine the hot topics on the Internet in the past 10 days to provide you with the latest exchange rate data and hot content analysis to help you better grasp the timing of investment and consumption.
1. The latest Hong Kong dollar to RMB exchange rate (as of October 2023)
| Date | 1 Hong Kong dollar to RMB | Increase or decrease |
|---|---|---|
| 2023-10-01 | 0.923 | +0.2% |
| 2023-10-05 | 0.918 | -0.5% |
| 2023-10-10 | 0.921 | +0.3% |
2. Hot events affecting exchange rates
1.Fed rate hike expectations: The U.S. CPI data in September exceeded expectations, and the market’s probability of the Federal Reserve raising interest rates in November rose to 90%. The strengthening of the U.S. dollar indirectly affected the Hong Kong dollar exchange rate.
2.Hong Kong property market policy adjustments: The Hong Kong SAR government announced the relaxation of stamp duty policies in the property market to stimulate capital inflows and increase demand for Hong Kong dollars in the short term.
3.RMB internationalization process: The People’s Bank of China signed local currency swap agreements with many countries, and the transaction volume of the RMB Cross-border Payment System (CIPS) hit a new high.
3. Comparison of expert opinions
| institution | point of view | prediction interval |
|---|---|---|
| CICC | Under pressure in the short term, optimistic in the long term | 0.90-0.93 |
| HSBC | Maintain range oscillation | 0.91-0.94 |
| Morgan Stanley | Be wary of downside risks | 0.89-0.92 |
4. Practical exchange suggestions
1.Tourism consumption: It is recommended to pay attention to the bank's "exchange rate discount days". Some banks provide additional exchange discounts every Wednesday.
2.Large amount exchange: You can inquire through licensed exchange shops in Hong Kong, which are usually 0.5%-1% cheaper than the bank exchange rate.
3.investment channels: Consider investing in the Hong Kong market through Southbound Trading to automatically complete currency conversion and avoid secondary exchange losses.
5. Related hot topics
1.Hong Kong consumption recovers: During the National Day Golden Week, mainland tourists visiting Hong Kong returned to 85% of pre-epidemic levels, and luxury goods consumption increased by 40% year-on-year.
2.Digital RMB Progress: The Hong Kong Monetary Authority conducts a digital renminbi cross-border payment test, which may reduce exchange costs in the future.
3.Offshore RMB Market: The scale of offshore RMB deposits in Hong Kong exceeded 1.2 trillion yuan, a record high.
Summary:The current exchange rate of the Hong Kong dollar against the RMB is in a fluctuation range of around 0.92, which is affected by multiple factors and exhibits two-way fluctuation characteristics. It is recommended that investors pay attention to the policy trends of the Federal Reserve and mainland economic data, and ordinary consumers can take advantage of bank preferential periods to exchange. As the integration of the Guangdong-Hong Kong-Macao Greater Bay Area deepens, currency circulation between the two places will become more convenient and efficient.
check the details
check the details
en
