Planning a trip to Hong Kong means anticipating the Hong Kong dollar (HKD), a currency pegged to the US dollar: here's how to manage cash and your Octopus card before you leave.
The Hong Kong dollar (HKD): a currency pegged to the US dollar
The Hong Kong dollar, whose international code is HKD and symbol HK$, has one of the most interesting monetary features in Asia. Since 1983, it has been "pegged" to the US dollar within a narrow band, around 7.75 to 7.85 HKD per 1 USD. This peg, managed by the Hong Kong Monetary Authority, makes the currency remarkably stable: unlike many Asian currencies, the HKD does not experience sharp day-to-day swings.
For a traveller leaving from France, this has a concrete consequence: the value of your euro against the HKD primarily follows the movement of the euro/US dollar pair. When the euro is strong against the greenback, your purchasing power in Hong Kong benefits directly. Banknotes circulate in denominations of 10, 20, 50, 100, 500 and 1,000 HKD, with a local curiosity: they are issued by three different banks (HSBC, Standard Chartered and Bank of China), so the same amount can exist in several designs, all perfectly valid.
Cash or card? The payment culture in Hong Kong
Hong Kong is a very modern metropolis where bank cards are accepted in hotels, shopping malls and most restaurants. That said, cash remains essential in daily life: street markets, dai pai dong (local food stalls), small shops in Mong Kok, taxis (often reluctant to take cards) and temples still operate largely on cash. Bringing a buffer of HKD banknotes therefore remains the most reassuring solution for your first days and for unexpected expenses.
ATMs are plentiful on site, but withdrawals from a French card frequently incur fixed fees per transaction and exchange commissions applied by your bank. Exchanging part of your budget into euros before departure spares you these cumulative fees, guarantees you arrive with cash in hand right from the airport, and lets you know in advance the exact amount you will receive.
The Octopus card: the local essential
It's impossible to talk about Hong Kong without mentioning the Octopus card (八達通). This contactless prepaid card is used by almost all residents: the MTR metro, buses, the tram, the Star Ferry, 7-Eleven convenience stores, drink vending machines and many shops. You top it up with cash at stations or convenience stores, which makes it very useful to have HKD denominations on hand as soon as you arrive. A simple logic applies: cash to load your Octopus and for small purchases, the bank card for large expenses.
Tips, taxes and local customs
In Hong Kong, tipping does not carry the almost mandatory character it has in the United States. In restaurants with table service, a 10% service charge is often already added to the bill; it is common to leave the loose change as a supplement, nothing more. For taxis, you generally round up to the next dollar. In hotels, a few dollars for the porter are appreciated but never required. This moderation makes managing your cash budget easier.
How much cash to bring and the customs rule
The right instinct is to leave with a reasonable reserve in HKD to cover transfers, first meals, Octopus top-ups and unexpected costs, then to top up on site according to your needs. Keep in mind a very real European customs rule: any transport of cash equal to or greater than €10,000 (or its equivalent in foreign currency) entering or leaving the European Union must be the subject of a customs declaration. For a tourist trip, you generally stay well below this threshold, but it's better to know about it if you travel as a group or for a long stay.
Exchanging your euros for HKD before leaving, in Paris
To prepare for your departure from Paris, Paris Change offers the purchase and sale of currencies including the Hong Kong dollar, among more than 53 currencies available. A bureau de change approved by the ACPR (Banque de France), our establishment applies indicative counter rates, updated every day, and operates commission-free. You can reserve your amount online, then come and collect it in store at a time that suits you.
A practical advantage before a long-haul flight to Asia: our single store, located at 4 Boulevard Saint-Michel, 75005 Paris, is open 7 days a week (Monday to Saturday from 9:00 a.m. to 8:00 p.m., and Sunday from 10:00 a.m. to 7:30 p.m.). In the heart of the Latin Quarter, it is accessible via the Saint-Michel metro (line 4) as well as the RER B and C at the Saint-Michel–Notre-Dame station. So you can pick up your HKD even the day before a weekend departure.
Frequently asked questions
Does the HKD rate move much from day to day?
Since the Hong Kong dollar is pegged to the US dollar, its value against the euro depends essentially on the movement of the euro/US dollar pair. The currency is therefore more stable than many other Asian currencies, but our counter rates remain indicative and vary each day.
Is it better to exchange in Paris or withdraw on site?
Exchanging part of your budget into euros before departure spares you the withdrawal fees and exchange commissions often applied to French cards abroad, and ensures you arrive with cash for transport, topping up your Octopus card and your first purchases.
Do I have to declare my money at customs?
Yes, as soon as you carry the equivalent of €10,000 or more in cash entering or leaving the European Union, a customs declaration is mandatory. Below this threshold, no formality is required.
Prepare for your trip to Hong Kong with complete peace of mind: reserve your Hong Kong dollars online and collect them at 4 Boulevard Saint-Michel, open 7 days a week, commission-free.
