Hong Kong Stamp Duty in Foreign Currency: Which Exchange Rate Applies

A share transfer priced in US dollars, a renminbi-counter stock trade, a lease with rent in another currency: each is chargeable with Hong Kong stamp duty, and the duty is worked out on a Hong Kong dollar value. The Stamp Duty Ordinance (Cap. 117) says which exchange rate produces that value.

The rule

The Inland Revenue Department's stamp duty FAQ puts it in one sentence: if the consideration is in a currency other than the Hong Kong dollar, it is converted into Hong Kong dollars at the rate of exchange determined by the Hong Kong Monetary Authority. Section 18 of the Ordinance is the provision on foreign currency.

The Stamp Duty (Amendment) (No. 2) Ordinance 2026 spells the formula out in its new provisions: the rate of exchange prevailing on the relevant date is the buying rate for telegraphic transfers, as determined by the Monetary Authority, at the commencement of business on that date. If the date is a Sunday or a general holiday, the business day immediately before it is used.

Where the rate is posted

For stock transactions the IRD FAQ says the exchange rates for each trading day are made available on the HKEX website by 11:00 am or earlier that day. HKEX posts them on its stamp duty exchange rate page for the two currencies its securities trade in besides the Hong Kong dollar: renminbi and US dollars. HKEX also uses the same rate for the SFC transaction levy, the AFRC transaction levy and the Exchange trading fee on those trades.

For instruments in other currencies, such as an unlisted share transfer in euros or a lease in sterling, the statutory rate is still the Monetary Authority's telegraphic transfer buying rate, and the Stamp Office confirms the figure to use when the instrument is stamped.

Checking the figure

Before an instrument is presented, a deal team usually wants a close estimate of the duty. The official Hong Kong Association of Banks (HKAB) table is set at the opening of business each day and has a telegraphic transfer buying column, which makes it the natural cross-check. It is not the statutory figure: stamp the instrument on the rate the Stamp Office or HKEX gives.

# today's HKAB table, including the TT buying rate
curl "https://allratestoday.com/api/open/central-bank/hkab"

# the HKAB table for the date of an instrument
curl "https://allratestoday.com/api/v1/central-bank/hkab/2026-11-05" \
  -H "Authorization: Bearer YOUR_API_KEY"

On 11 November 2026 the HKAB telegraphic transfer buying rates were 7.8145 for the US dollar, 8.6550 for the euro, 10.3900 for sterling and 1.1635 for the renminbi.

What changed in 2026: duty in renminbi

The Stamp Duty (Amendment) (No. 2) Ordinance 2026 (Ordinance No. 5 of 2026) was signed on 16 July 2026. Two changes matter for foreign currency:

• Section 18 is retitled to refer to the substitution of Hong Kong dollars for non-Hong Kong currency in the calculation of stamp duty.
• A new section 18AA and Schedule 14 provide that stamp duty on a contract note for a dual-counter stock traded in renminbi is calculated and paid in renminbi, with no conversion. Fractions are rounded up to one yuan.

The Ordinance takes effect on a day to be appointed by the Secretary for Financial Services and the Treasury. Check the IRD's stamp duty pages for the commencement notice before changing a settlement process.

A worked example

Shares in a Hong Kong company are transferred for USD 2,000,000 on a business day.

1. Take the Monetary Authority's telegraphic transfer buying rate at the commencement of business that day.
2. Convert the consideration: at a rate of 7.8145, USD 2,000,000 is HKD 15,629,000.
3. Apply the duty rate for the instrument to the Hong Kong dollar value and round up as the Stamp Office directs.

This guide describes the rules as the Inland Revenue Department and the other bodies publish them, read on 11 November 2026. It is not tax advice; confirm the treatment for your facts with your accountant.

FAQ

Which exchange rate is used for Hong Kong stamp duty?

The IRD states that consideration in a currency other than the Hong Kong dollar is converted at the rate of exchange determined by the Hong Kong Monetary Authority. The 2026 amendment describes it as the buying rate for telegraphic transfers at the commencement of business on the relevant date.

Where is the stamp duty exchange rate published?

For stock transactions the rates for renminbi and US dollars are made available on the HKEX website by 11:00 am or earlier on each trading day.

What if the date falls on a Sunday or a public holiday?

The rate for the business day immediately before that date is used.

Can stamp duty be paid in renminbi?

The Stamp Duty (Amendment) (No. 2) Ordinance 2026 provides for duty on contract notes for dual-counter stocks traded in renminbi to be calculated and paid in renminbi. It takes effect on a day to be appointed.