Understanding historical exchange rates is essential for travelers, investors, and businesses engaged in international transactions. This comprehensive overview explores the HKD to USD exchange rate history for 2021, offering insights into key fluctuations, monthly trends, and overall performance throughout the year.
The Hong Kong Dollar (HKD) operates under a linked exchange rate system, pegged to the US Dollar (USD) within a narrow band of 7.75 to 7.85 HKD per USD. This stability ensures minimal volatility, but small shifts still occur due to market forces and global economic conditions.
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Key Exchange Rate Highlights for 2021
In 2021, the HKD/USD exchange rate remained remarkably stable, reflecting the strength of Hong Kong’s monetary policy and its close financial ties with the United States.
- Highest Rate: 0.1290 USD on February 3, 2021
- Lowest Rate: 0.1281 USD on December 16, 2021
- Annual Average: 0.1287 USD
- Yearly Change: -0.55% (a slight depreciation of the HKD against the USD)
Despite minor fluctuations, the exchange rate stayed within a tight range, underscoring the effectiveness of Hong Kong’s currency board system.
Monthly Breakdown of HKD to USD Rates in 2021
January 2021
The year began strongly for the Hong Kong Dollar, maintaining a high exchange rate of 0.1290 USD for most of the month. Only on January 8 did it dip slightly to 0.1289 USD.
- Best Rate: 0.1290
- Worst Rate: 0.1289
- Monthly Average: 0.1290
February 2021
February mirrored January’s stability, with the rate holding at 0.1290 for nearly the entire month. A minor drop to 0.1289 occurred on February 26.
- Best Rate: 0.1290
- Worst Rate: 0.1289
- Monthly Average: 0.1290
March 2021
A gradual softening began in March. The rate started at 0.1289, dipped to 0.1286 by month-end, and averaged 0.1288.
- Best Rate: 0.1289
- Worst Rate: 0.1286
- Monthly Average: 0.1288
April 2021
April saw increased movement, with a low of 0.1285 on April 7 and a peak of 0.1289 later in the month.
- Best Rate: 0.1289
- Worst Rate: 0.1285
- Monthly Average: 0.1287
May 2021
Stability returned in May, with rates fluctuating between 0.1287 and 0.1289, averaging 0.1288.
- Best Rate: 0.1289
- Worst Rate: 0.1287
- Monthly Average: 0.1288
June 2021
June maintained consistency, trading between 0.1288 and 0.1289, with an average of 0.1288.
- Best Rate: 0.1289
- Worst Rate: 0.1288
- Monthly Average: 0.1288
July 2021
July showed continued weakening, reaching a low of 0.1285 on July 27–28.
- Best Rate: 0.1288
- Worst Rate: 0.1285
- Monthly Average: 0.1287
August 2021
August recorded more pronounced declines, with the rate hitting 0.1283 on August 17 and again on August 23.
- Best Rate: 0.1286
- Worst Rate: 0.1283
- Monthly Average: 0.1285
September 2021
The trend continued downward, with a low of 0.1284 and a high of 0.1287.
- Best Rate: 0.1287
- Worst Rate: 0.1284
- Monthly Average: 0.1285
October 2021
October remained relatively flat, ranging between 0.1284 and 0.1286, averaging 0.1285.
- Best Rate: 0.1286
- Worst Rate: 0.1284
- Monthly Average: 0.1285
November 2021
November saw further depreciation, with the rate dropping to 0.1282 on November 30—the lowest point until December.
- Best Rate: 0.1285
- Worst Rate: 0.1282
- Monthly Average: 0.1284
December 2021
The year ended at its weakest point, with the rate touching 0.1281 on December 16—the annual low.
- Best Rate: 0.1283
- Worst Rate: 0.1281
- Monthly Average: 0.1282
Frequently Asked Questions (FAQs)
What was the average HKD to USD exchange rate in 2021?
The average exchange rate for the year was 1 HKD = 0.1287 USD.
When was the highest HKD to USD rate in 2021?
The strongest rate occurred on February 3, 2021, when 1 HKD = 0.1290 USD.
When did the HKD hit its lowest value against the USD in 2021?
The weakest point was on December 16, 2021, with a rate of 1 HKD = 0.1281 USD.
Why did the HKD depreciate slightly over the year?
Global economic uncertainty, US Federal Reserve monetary policy shifts, and capital outflows from Hong Kong contributed to minor downward pressure on the HKD late in the year.
Is the HKD always pegged to the USD?
Yes, since 1983, Hong Kong has maintained a linked exchange rate system, keeping the HKD within a narrow band of 7.75–7.85 per USD.
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Final Thoughts
While the Hong Kong Dollar demonstrated resilience in 2021, it experienced a gradual decline against the US Dollar, closing the year at its lowest level since early February. This slight depreciation reflects broader macroeconomic trends rather than any fundamental weakness in Hong Kong’s monetary framework.
Whether you're analyzing past trends for investment decisions or planning future international transactions, understanding these patterns provides valuable context.