Timeline

• 29.03.1842
  27.04.1842
• Proclamations by the "Plenipotentiary and Chief Superintendent for the trade of British subjects in China", gives legal tender status to the Spanish Dollar, the Indian Rupee, and Chinese copper coins (first for payments at the "bazaar" then for all transactions); effective immediately. Ratings:
  - Spanish Dollar = 2¼ Indian Rupees = 1'200 Chinese Cash (coppers).
• 28.11.1844
• Order in council on the introduction of Sterling accounting (revoking the two 1842 proclamations); effective immediately. Ratings:- Gold: Indian Mohur at 29¹⁄₆ Shillings Sterling
  - Silver: Spanish Dollar at 50 Pence Sterling, Indian Rupee at 22 Pence Sterling
  - Copper: Chinese Cash (coppers) at ¹⁄₂₄ Penny Sterling.

Timeline

• 16.01.1864
• Ordinance [No. 1] (based on the Order in council of 09.01.1863) on the introduction of the Dollar currency and the unlimited legal tender status of the Mexican Peso; effective on 16.02.1864
• 20.10.1866
• Treasury regulation on the issuance of silver coins of 1, ½ Dollar; effective 12.01.1867.
  - The issuance of the coins had already started on 15.06.1866
  - The Hong Kong mint opened on 07.05.1866 and closed in April 1868.
• 02.02.1895
• Ordinance [Hong Kong (Coinage) Order], declares the British Trade Dollar legal tender (beside the Mexican Peso and the Hong Kong Dollar of 1866); effective 01.04.1895
• 20.03.1895
• Ordinance [Bank Notes Issue, No. 2], makes the issuance of private paper money subject to approval by a Secretary of State nominated by the government; effective immediately
• 06.12.1935
• Ordinance [Exchange Fund Ordinance, No. 54] on the establishment of a currency board (called "Exchange Fund") and the switch to the gold standard; effective immediately.

Valuation Regimes

• 1864-1935
• Fixed rate against silver (in form of the Mexican Peso)
• 1935-1942
• Fixed rate against British Pound

Timeline

• 1942-1945
• Use of the Japanese Military Yen during the occupation of Hong Kong. The issuing banks were closed and their privilege given to two Japanese banks doing business in China: Bank of Taiwan and Yokohama Specie Bank. Unissued Hong Kong Dollar banknotes from the vaults of the closed issuing banks were issued by the occupiers, referred to as "Duress Notes". Japanese occupation from Malaya (denominated in "Dollar") was used also in Hong Kong, referred to as "Banana Money" (depiction on the 10 Yen note):
  - 02.01.1942: Japanese Military Administration ordinance on the introduction of the Japanese Military Yen at a rate of 1 Japanese Yen = 2 Hong Kong Dollars (which corresponded to a devaluation by -53.4%); effective immediately:
  - ??.08.1942: Devaluation by 50% to a rate of 1 Japanese Yen = 4 Hong Kong Dollars
  - 10.05.1943: Japanese Military Administration ordinance on the demonetization the Hong Kong Dollar; effective 01.06.1943.

Timeline

• 13.10.1945
• British Military Administration proclamation [Currency, No. 5] on the re-instation of the Exchange Fund and the note issuing banks, as well as the restoration of the Hong Kong Dollar as unit of account; effective immediately
  - Pre-occupation notes and such issued during occupation ("Duress Notes") keep unlimited legal tender status
  - Japanese 1000 Yen notes (overprinted "one Dollar"), Central Reserve Bank of China notes of 1000 Yuan (overprinted "one Dollar") and 5000 (overprinted "ten Dollars") have legal tender status untill recalled
  - Japanese occupation money is demonetized without compensation (by resolution of 06.09.1945, the Japanese Ministry of Finance excluded any redemption of Japanese occupation money, either).
• 01.05.1946
• Ordinance [Law Amendment (Transitional Provisions), No. 2], repeals all proclamations by the British Military Administration; effective immeditately
• 16.08.1946
• Ordinance [Bank Notes and Certificates of Indebtedness, No. 13], allows the note issuing banks to redeem the "Duress Notes"; effective immeditately

Valuation Regimes

• 1945-1972
• Fixed rate against British Pound
• 1972-1974
• Fixed rate against US Dollar
• 1974-
• Variable rate. On 17.10.1983, the Linked Exchange Rate System (LERS) was introduced which restricts the fluctuations to a ±0.6% band around a central rate against US Dollar.