2020-03-18 Wed

The history of Banknotes of Hong Kong begins when Hong Kong was established as a free trading port in 1841. There was no local currency available for daily circulation.

The banking industry began in Hong Kong in 1845 with the opening of a branch of the Oriental Banking Corporation, which had its headquarters in India. This Bank was also the first bank in Hong Kong to issue banknotes. In 1846, the Oriental Bank Corporation issued Hong Kong’s first banknotes and bearers of the notes could exchange them for silver dollars.

The banknote was denominated with the 5 Hong Kong Dollars and is uniface. The note depicts the Coat of Arms of the Royal charter flanked by the denomination written in words and the serial number of the note. The date do issue, promissory note, and the signatures of the authorities are below the arms. All of this is within a border inscribed with Chinese Letters.

The size of the banknote is relatively large. People have to fold it several times before putting it in their wallets, leading to its nickname “the big blanket”.

Image Courtesy: hkma.gov.hk