MONEY AND BANKING

Many world-class banks have branches in Hong Kong. Most banks are open from 9:00 a.m. to 4:30 p.m. on weekdays, and some of them are also open from 9:00 a.m. to 12:30 p.m. on Saturday. There is no foreign exchange control in the territory and the Hong Kong dollar is freely convertible. In Hong Kong, any currency, including Mainland China's renminbi (RMB), may be bought and sold in the open market. Visitors can exchange foreign currency at any bank or exchange shop or at the cashier counters of hotels. Daily exchange rates are available through any bank or on the website of The Hong Kong Association of Banks, but the Hong Kong dollar is pegged at HK$7.8 to US$1. The government issues coins in denominations of 10c, 20c, 50c, $1, $2, $5 and $10. There are also three different kinds of bank notes issued by 3 different note-issuing banks in denominations of $10, $20, $50, $100, $500 and $1,000.

CREDIT CARD