WorldFirst Home > blog > Global Business Tips > Currency in Hong Kong: a guide for UK importers

Currency in Hong Kong: a guide for UK importers

Last update: July 15, 2026

Contents

A Hong Kong supplier quote may look straightforward at first, but what you see may not be what you need to pay. The currency, exchange rate, payment route and fee arrangement can all affect which charges apply, which records you need after payment and what the final cost of your shipment will be.

Your supplier may quote in HKD or use USD for cross-border trade. For UK importers, that choice can add up across repeat orders. The Department for Business and Trade reported total UK imports from Hong Kong SAR of £11.7 billion in the four quarters to the end of Q4 2025.

This guide explains the currency in Hong Kong, how GBP/HKD exchange rates work, what to check before paying suppliers and how to receive payments in HKD.

Key takeaways:

Hong Kong uses the Hong Kong dollar, so UK importers need to check if supplier invoices are in HKD, USD or GBP
GBP/HKD exchange rates, FX margins and transfer fees can change the final cost of Hong Kong supplier payments
Supplier bank details need careful checking, including beneficiary name, account number, SWIFT/BIC, payment currency and invoice reference
Holding HKD can reduce extra currency conversion when you have future Hong Kong supplier invoices to pay
A multi-currency account can make it easier to receive, hold, convert and pay in HKD from one place

What currency does Hong Kong use?

Hong Kong uses the Hong Kong dollar, usually shown as HKD or HK$. If you buy from Hong Kong suppliers, check the currency code before you compare the quote, agree on a deposit or send the final payment.

The Hong Kong Monetary Authority, or HKMA, is Hong Kong’s central banking institution. It oversees Hong Kong’s monetary and banking system, including the issue and circulation of Hong Kong currency.

Currency detail	Hong Kong
Currency	Hong Kong dollar
Currency code	HKD
Symbol	HK$
Subunit	100 cents
Common banknotes	HK$10, HK$20, HK$50, HK$100, HK$500 and HK$1,000
Common coins	10 cents, 20 cents, 50 cents, HK$1, HK$2, HK$5 and HK$10
Monetary authority	Hong Kong Monetary Authority
Common supplier invoice currencies	HKD, USD and sometimes GBP

For supplier payments, the currency code matters more than the symbol. Hong Kong suppliers may quote in HKD or USD, so ask them to clearly indicate the currency on the quote, pro forma invoice and final invoice. That makes deposits, balance payments, FX checks and refunds easier to reconcile.

How do GBP/HKD exchange rates work?

The GBP/HKD exchange rate shows how many Hong Kong dollars your pounds can buy. If your supplier invoices you in HKD, the rate affects the final amount leaving your GBP account.

Rate	What it tells you	Why it matters
GBP/HKD	How many Hong Kong dollars £1 can buy	Useful when you start with GBP and need to pay an HKD invoice
HKD/GBP	How many British pounds HK$1 can buy	Useful when your supplier has already issued an HKD invoice
USD/HKD	How many Hong Kong dollars US$1 can buy	Useful when your supplier offers both USD and HKD pricing

For example, the Bank of England daily spot rate on 22 June 2026 showed £1 = HK$10.3987.

If your Hong Kong supplier invoices you for HK$50,000, the cost could look like this:

Benchmark rate: £1 = HK$10.3987
Benchmark GBP cost: HK$50,000 ÷ 10.3987 = £4,808.29
Provider rate with a 0.5% higher HKD cost: about £1 = HK$10.3470
GBP cost at provider rate: HK$50,000 ÷ 10.3470 = £4,832.33
Difference before fees: £24.04

The HKMA oversees the Linked Exchange Rate System, which keeps HKD closely tied to USD. For UK importers, GBP/HKD can still move when the pound changes against the US dollar.

For repeat Hong Kong orders, keep the quoted rate, payment date and fees with each invoice. That makes it easier to compare the real GBP cost of one order against the next.

How to pay Hong Kong suppliers from the UK

Paying a Hong Kong supplier from the UK is usually less about choosing from a long list of methods and more about matching the payment to the invoice.

Before each deposit or balance payment, confirm the currency, beneficiary name and reference match the latest invoice. Then match the account details to the supplier’s invoice or payment instruction.

Also, ask your supplier to confirm:

Beneficiary name
Account number
Bank name
Bank address
SWIFT or BIC code
Hong Kong bank code or branch code, if provided
Payment currency
Invoice number or order reference
Who covers transfer, intermediary or receiving fees

Hong Kong accounts do not use IBANs. Enter the account number, bank details and any local bank or branch code exactly as your supplier provides them.

If the supplier changes account details, verify the request through a trusted contact before paying. Pause if they ask you to send money to a different company or personal account.

Main ways to pay a Hong Kong supplier

Payment method	When it can work
Bank international transfer	You’re paying from a UK business bank account
Specialist payment provider	You want to compare the full GBP cost before paying
Multi-currency account	You hold or convert HKD for supplier payments
Local Hong Kong route, where supported	Your provider can route the payment locally in Hong Kong
Card payment	The supplier accepts card for samples or small orders
Marketplace or platform payment	You’re ordering through a sourcing platform

For marketplace or platform payments, check the usual supplier details, then confirm the platform fees, buyer protection terms, refund process and payout timing before you pay.

The payment route can affect settlement time, deductions and proof of payment. Check these details before you pay, especially if your supplier needs cleared funds before dispatch or freight booking.

Should you pay Hong Kong suppliers in HKD, USD or GBP?

Choose the currency that matches the supplier’s invoice, receiving account and confirmed amount due.

HKD: Usually the best fit when the supplier invoices in Hong Kong dollars and wants the same amount credited to their Hong Kong account.
USD: Useful when the supplier prices export orders in US dollars and confirms the exact amount they need to receive.
GBP: Works when the supplier gives you a confirmed sterling price and accepts GBP into a suitable account.

Keep the invoice, payment confirmation and supplier confirmation together so you can trace the order if the value changes or if you happen to need a refund.

Receiving payments from Hong Kong in HKD

If you receive money in HKD and later need to pay another HKD invoice, converting everything back to GBP can add an extra FX step.

You might receive HKD from:

Supplier refunds
Credit notes
Rebates or volume discounts
Hong Kong distributors
Hong Kong customers
Marketplaces or platforms that settle in HKD

Before you convert HKD to GBP, check your next Hong Kong payment.

If you expect more Hong Kong supplier costs, compare the value of converting now with the value of leaving HKD available for the next invoice.

Record the received amount, fee details, FX rate, conversion date and original invoice or payout record together. That gives you a clearer view of the real GBP value of each HKD receipt.

Manage Hong Kong payments with WorldFirst

When you understand the currency in Hong Kong, repeat supplier payments become easier to plan. If you receive HKD and also pay Hong Kong invoices, a multi-currency account can reduce unnecessary currency movement.

With a multi-currency World Account from WorldFirst, you can receive and hold 20+ currencies, including HKD and pay suppliers in 100+ currencies from one account. You can also manage FX conversions and payment records in one place.

For example, your supplier sends a HK$40,000 credit note and you have a HK$280,000 invoice due next month. With a World Account, you could leave the credit in your HKD balance, convert only the extra amount you need from GBP to HKD and then pay the supplier from the same account.

That keeps the credit, conversion and outgoing payment easier to match.

WorldFirst isn’t a bank. In the UK, World First UK Ltd is authorised by the Financial Conduct Authority as an Electronic Money Institution.

FAQ

1. How long does a UK bank transfer to Hong Kong take?

A UK bank transfer to Hong Kong can arrive on the same day or take a few business days, depending on the provider, payment route, cut-off time and compliance checks. SWIFT payments can take longer if intermediary banks handle the transfer.

2. Why did my Hong Kong supplier receive less than I sent?

Your supplier may receive less if intermediary bank fees, receiving bank charges or currency conversion costs apply. Before sending the payment, confirm who covers those charges and the exact amount the supplier needs to receive.

3. Do Hong Kong bank holidays delay international supplier payments?

Yes. Hong Kong bank holidays, UK bank holidays and provider cut-off times can delay payment processing. If your supplier needs cleared funds before dispatch, avoid sending urgent payments close to a public holiday or weekend.

Sources:

https://assets.publishing.service.gov.uk/media/6a351e8400ff27f06e3efb00/hong-kong-sar-trade-and-investment-factsheet-2026-06-23.pdf
https://www.hkma.gov.hk/eng/
https://www.hkma.gov.hk/eng/key-functions/money/linked-exchange-rate-system/

Lawrence Bennett is UK Country Manager at WorldFirst. He brings 15+ years of experience across fintech, ventures and e-commerce.

Lawrence Bennett

Author

Country Manager, WorldFirst UK

The simpler way to pay and get paid

Save money, time, and have peace of mind when expanding your global business.

Get started

Currency in Hong Kong: a guide for UK importers

Key takeaways:

What currency does Hong Kong use?

How do GBP/HKD exchange rates work?

How to pay Hong Kong suppliers from the UK

Main ways to pay a Hong Kong supplier

Should you pay Hong Kong suppliers in HKD, USD or GBP?

Receiving payments from Hong Kong in HKD

Manage Hong Kong payments with WorldFirst

FAQ

1. How long does a UK bank transfer to Hong Kong take?

2. Why did my Hong Kong supplier receive less than I sent?

3. Do Hong Kong bank holidays delay international supplier payments?

Continue reading

How to mitigate foreign exchange risk: a guide for UK importers

Currency hedging guide for UK businesses

Digital payments for business: methods, costs and how to choose

How much money can I send abroad from the UK? Rules, limits and costs

Difference between a forward and a futures contract

How to buy from 1688: a complete guide for UK importers

The simpler way to pay and get paid

Currency in Hong Kong: a guide for UK importers

Key takeaways:

What currency does Hong Kong use?

How do GBP/HKD exchange rates work?

How to pay Hong Kong suppliers from the UK

Main ways to pay a Hong Kong supplier

Should you pay Hong Kong suppliers in HKD, USD or GBP?

Receiving payments from Hong Kong in HKD

Manage Hong Kong payments with WorldFirst

FAQ

1. How long does a UK bank transfer to Hong Kong take?

2. Why did my Hong Kong supplier receive less than I sent?

3. Do Hong Kong bank holidays delay international supplier payments?

Continue reading

How to mitigate foreign exchange risk: a guide for UK importers

Currency hedging guide for UK businesses

Digital payments for business: methods, costs and how to choose

How much money can I send abroad from the UK? Rules, limits and costs

Difference between a forward and a futures contract

How to buy from 1688: a complete guide for UK importers

The simpler way to pay and get paid

Pay in 15 currencies with World Card, no FX fees

Enjoy zero FX fees when paying in the following 15 currencies with World Card.

Send money in 100+ currencies

You can send money in your WorldFirst account to any of the currencies we support.

Get Paid by 130+ marketplaces

Seamlessly get paid by 130+ marketplaces and pay your suppliers anywhere.

Collect money in 20+ currencies

You can collect money in 20+ currencies. It only takes a few minutes to open an account in the currency you need.