USDHKD is an exotic pair consisting of the US dollar as the base currency and the Hong Kong dollar (HKD) as the quote currency. It is the most commonly traded pair that includes the HKD. This forex pair represents the HKD needed to buy one USD.

What is USDHKD?

The USDHKD is the currency pair representing the US and Hong Kong dollars. It shows the exchange rate between the currencies. If put, this exchange rate indicates the number of HKDs required to buy one USD. Knowing the exchange rate is essential for those interested in trading between countries, traveling, and making investment decisions. Moreover, traders who are eager to learn more about how to invest in USDHKD should keep tabs on factors that may influence its price movements. That includes monetary policies, geopolitical events, risk appetite, and market sentiment. Additionally, investors should pay attention to economic indicators such as GDP, trade data, inflation, and employment rates. These significant factors must be considered before investing in currency pairs, including the USDHKD.

How does USDHKD work?

The currency pair works by trading on various platforms, like SimpleFX. First, the trader needs to open an account. SimpleFX provides a demo account where investors can learn how to trade USDHKD. It gives access to the simulation of real-time market conditions without financial risks. The traders speculate on the currency pair's price fluctuations through this account and buy or sell the pair accordingly. For instance, if the price is expected to increase, they buy the pair, intending to sell it more expensive later. Hence, in this way, this is one of the ways to manage risk.

USDHKD price history

Knowing about a currency pair's past performance is essential before investing in it. So here's the summary of the pair's price:

2018

On 1st January 2018, the price was 7.814 HKD; on 31st December, it was 7.8309 HKD. The year's highest and lowest exchange rates were 7.8518 HKD on 28th August and 7.8032 HKD on 4th December. The year's average exchange rate was 7.8376 HKD.

2019

The year commenced with the USDHKD at 7.8335 HKD and ended at 7.7886 HKD. The best and the worst exchange rates for the year were 7.8506 HKD on 28th March and 7.7865 HKD on 4th July. The year's average was 7.835 HKD.

2020

At the year's beginning, the price of USDHKD was 7.7938, and the year wrapped with it at 7.7534 HKD. The year's highest exchange rate was 7.7953 HKD on 27th February, and the lowest value was 7.7496 HKD on 3rd July. The mean exchange rate for the year was 7.7563 HKD.

2021

On 1st January 2021, the USDHKD price was 7.7535 HKD; on 31st December 2021, it was 7.7958 HKD. The best exchange rate in 2021 was 7.8037 HKD on 16th December, and the worst was 7.7514 HKD on 3rd February. The average USDHKD price for the year was 7.7727 HKD.

2022

The year started when the exchange rate was at 7.7958 HKD, and it ended at 7.8133 HKD. The year's best exchange rate was 7.8657 HKD on 30th September, and the worst value reported was 7.7686 HKD on 5th December. The annual average exchange rate was 7.8307 HKD.

Current USDHKD price

The current USDHKD price is subject to fluctuation due to the volatility of the forex market. Investors can check it on the chart or the SimpleFX Webtrader platform.

Is USDHKD a good investment?

Whether USDHKD is a good investment depends on factors such as interest rates, monetary policies, geopolitical events, etc. The answer depends on analyzing these factors and the potential returns on investment. If the factors are also stable and there are more chances of return, this currency pair brings more interest from investors worldwide.

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