The Hong Kong Monetary Authority Only Issues One Banknote

Hong Kong’s latest series of banknotes, the 2018 series, saw the issuance of no fewer than 15 new banknotes across five denominations. However, the Hong Kong Monetary Authority, the central banking institution of Hong Kong, only issues one type of banknote.

This peculiarity stems from the fact that the Hong Kong government, through the Monetary Authority, has licensed three commercial banks to issue their own banknotes. Standard Chartered Bank has been issuing banknotes in Hong Kong since 1862, while HSBC has been issuing its own banknotes since 1865. Bank of China, on the other hand, was authorized to issue banknotes starting in 1994.

In accordance with guidelines set by the Hong Kong Monetary Authority—such as color scheme, size, and security features—each of these three banks issues its own series of banknotes in denominations of $20, $50, $100, $500, and $1,000.

Until 2002, the $10 denomination was also issued by commercial banks. However, following a failed attempt to replace $10 banknotes with $10 coins, the Hong Kong Monetary Authority began issuing its own $10 banknotes.

As of 2026, both $10 banknotes and $10 coins are in circulation in Hong Kong, with the $10 banknote remaining the only banknote issued by the Hong Kong Monetary Authority.

Hong Kong $10 Banknote