Sunday, September 16, 2007

HK EXCHANGE RATE

7.745

That was the exchange rate at the time of my first conversion of US$ to HK$. It takes some getting used to, seeing such big numbers on things like the Sunday South China Morning Post newspaper for $7.00, but then you remember, "Oh, that's less than a buck." So, I thought I would give a few examples of the cost of things in Hong Kong, in HK$ and approximate US$, starting with some items from the grocery stores Wellcome and Taste

Coca Cola 8-Pack HK$ 20.90 [$2.70]
Large Tub of Margerine - Ditto
Cola in Vending Machine HK$ 5.00 [$0.65]
Banana Bunch of 4-5 HK$ 4.30 [$0.55]
Five Plums HK$ 10.00 [$1.30]
Mickey D's Double Cheeseburger - Ditto
Loaf of Bread - Ditto
Four Oranges HK$ 11.80 [$1.50]
Mickey D's Soft Ice Cream Cone HK$ 2.50 [$0.33]
Big Box of Frosted Flakes HK$ 28.90 [$3.75]
Half Gallon of Soy Milk HK$ 19.90 [$2.55]
Note - Dairy Milk is Very Expensive
Medium Jar of Blackcurrant Jam HK$ 12.90 [$1.65]
Medium Peanut Butter HK$ 13.90 [$1.80]
Can of Potato Chips - Ditto
Large Crab & Crayfish on Rye HK$ 32.00 [$4.15]
Tsingtao 640ml Bottle HK$ 9.80 [$1.25]
Coffee & Tea - Free in the Hotel Room!

I will try to add some restaurant prices, but for now, suffice it to say - the places that serve traditional Chinese and Asian foods are quite reasonable and the Western restaurants are quite expensive. And if you are in the market for a nice car or home:

New Lamborghini Gallardo Spyder HK$ 3,430,000 [$439,000]
1999 Ferrari 360 Modena Coupe HK$ 1,240,000 [$160,000]
2006 Carrera HK$ 1,388,000 [$179,000]
1999 Subaru Legacy $78,000 [$10,000]
New Three Bedroom Apartment Home HK$ 16,000,000 [$2,000,000]
Seaview Lowrise HK$ 24,000,000 [$3,100,000]
Repulse Bay Highrise $31,800,000 [$4,100,000]
Victoria Peak Highrise HK$ 55,000,000 [$7,100,000]
Large Home High on Plantation Road $120,000,000 [$15,500,000]

Thus, most folks rent apartments and do not own cars.

2 comments:

Jonathan said...

The Economist Big Mac Index ranks the HK currency as being 55% undervalued to the dollar. Huh.

Swartzendruber said...

Now that's funny! And probably fairly accurate, eh?