Banknotes of the Hong Kong dollar
The issue of banknotes of the Hong Kong dollar is governed in the Special Administrative Region of Hong Kong by the Hong Kong Monetary Authority (HKMA), the governmental currency board and central bank of Hong Kong. Under licence from the HKMA, three commercial banks issue their own banknotes for general circulation in the region. Notes are also issued by the HKMA itself. In most countries of the world, the issue of banknotes is handled exclusively by a single central bank or government. The arrangements in Hong Kong are unusual but not unique, as a comparable system is used in the United Kingdom where six commercial banks other than the Bank of England (the central bank of the UK) issue banknotes (three in Scotland and three in Northern Ireland) and Macau where two banks issue banknotes. Hong Kong dollar banknotes in everyday circulation are issued in denominations of $10, $20, $50, $100, $500 and $1,000. It is common practice for most Hong Kong businesses to reject $1,000 notes due to...
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