What is the mid-market rate of USD (US Dollar) / HKD (Hong Kong Dollar) on September

Ready for the mid-market exchange rate of USD (US Dollar) / HKD (Hong Kong Dollar) for Saturday September 5, 2020?

The current rates for USD (US Dollar) / HKD (Hong Kong Dollar) are available in this article. As a top finance news site the Born2Invest team has analysed the latest forex market data to bring you live information that enables you to make the right forex trading call every day.Saturday September 5, 2020 1 USD (US Dollar) is 7.750504 of HKD (Hong Kong Dollar) .

Remember to always trade using a reputable broker. It’s also possible to apply many forex concepts to cryptocurrency trading.

Forex pairs explained

Forex trading is inherently risky and there are countless forex pairs to choose from. The only way to make a profit from forex trading is to understand how the market works. Luckily for you the Born2Invest forex team has collated some forex trading tips to get you started.

Forex trades are always made using currency pairs. Whenever you buy one currency you are selling another. In every pair there is a base currency, for example USD (US Dollar) and a quote currency, which would be HKD (Hong Kong Dollar).

The price of a currency pair represents the amount of quote currency, or HKD (Hong Kong Dollar), that you will need to spend in order to purchase a single unit of USD (US Dollar), the base currency. So using the current example you would need to spend 7.750504 of HKD (Hong Kong Dollar) in order to purchase 1 USD (US Dollar).

The three types of forex pairs

Forex pairs can be grouped into three main categories; the majors, the commodity currencies, and the cross currencies:

  • Major currencies are the most commonly traded currencies on the market. Different publications will use different criteria but pretty much every list will include EUR/USD, USD/JPY, GBP/USD, and USD/CHF
  • ll Commodity currencies are currency pairs that are closely linked to commodities such as oil, iron ore, and coal. Common examples include AUD/USD and USD/CAD
  • Cross currencies include all currency pairs that don’t include USD. Examples include EUR/GBP and EUR/JPY.

What are the most traded forex pairs in the world?

  1. EUR/USD (Euro/US Dollar)
  2. USD/JPY (US Dollar/Japanese Yen)
  3. GBP/USD (British Pound Sterling/US Dollar)
  4. AUD/USD (Australian Dollar/US Dollar)
  5. USD/CAD (US Dollar/Canadian Dollar)
  6. USD/CNY (US Dollar/Chinese Renminbi)
  7. USD/CHF (US Dollar/Swiss Franc)
  8. USD/HKD (US Dollar/Hong Kong Dollar)
  9. EUR/GBP (Euro/British Pound Sterling)
  10. USD/KRW (US Dollar/South Korean Won)

Is cryptocurrency trading the same as forex trading?

While cryptocurrency trading shares many similarities to forex trading there are some key differences. Yes both markets are volatile and have the idea of “pairs” but cryptocurrencies are broadly unregulated and fall into a larger number of categories. The crypto market is complicated and very difficult for a novice investor to navigate.

To make matters more confusing most cryptocurrency trades take place on exchanges. These are typically unregulated and come with a higher degree of risk than using a broker. Many traders opt to use a CFD broker with crypto pairings

10 thoughts on “What is the mid-market rate of USD (US Dollar) / HKD (Hong Kong Dollar) on September

  1. Just desire to say your article is as surprising.
    The clarity for your put up is just nice and that i could assume you’re knowledgeable on this subject.
    Well along with your permission allow me to snatch your feed to
    keep updated with imminent post. Thanks 1,000,000 and please keep up the rewarding work.

  2. Woah! I’m really digging the template/theme of this site.
    It’s simple, yet effective. A lot of times it’s very hard to
    get that “perfect balance” between superb usability and
    visual appearance. I must say you have done
    a fantastic job with this. In addition, the blog loads super quick for me
    on Safari. Outstanding Blog!

  3. Hello! This is kind of off topic but I need
    some help from an established blog. Is it very hard to
    set up your own blog? I’m not very techincal but
    I can figure things out pretty fast. I’m thinking about making my own but I’m not sure where to start.
    Do you have any ideas or suggestions? Thanks

  4. What i don’t realize is in fact how you’re no longer really
    much more smartly-preferred than you may be now. You’re so intelligent.
    You realize therefore significantly in relation to this
    subject, produced me in my view believe it from so many
    numerous angles. Its like women and men are
    not fascinated unless it is something to do with Girl gaga!
    Your individual stuffs outstanding. At all times take care
    of it up!

  5. I blog frequently and I genuinely appreciate your content.
    This great article has really peaked my interest.
    I’m going to take a note of your blog and keep checking for new
    details about once per week. I opted in for your Feed too.

Leave a Reply

Your email address will not be published.