CNY/HKD: what to know
The CNY/HKD rate shows how much HKD you get for 1 CNY. Right now, 1 CNY buys 1.1699 HKD at the mid-market rate. In the other direction, 1 HKD is worth 0.8548 CNY.
In the short term CNY is driven mainly by PBoC decisions and Chinese growth, while HKD responds to its peg to the US dollar.
The Chinese Yuan (CNY) is issued by People’s Bank of China. One yuan = 10 jiao = 100 fen. The Hong Kong Dollar (HKD) is issued by Hong Kong Monetary Authority. Most banknotes are issued by three commercial banks, not a central bank.
Over the past 12 months the CNY/HKD rate has ranged between 1.0889 and 1.1718 — a change of +6.96% versus a year ago.
Use this mid-market figure as your benchmark: compare it with the rate your bank or broker quotes, and the difference is the margin you would pay.