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500 Dollars Standard Chartered Bank
| Issuer | Standard Chartered Bank |
|---|---|
| Year | 2003 |
| Type | Log in to see details |
| Value | 500 Dollars |
| Currency | Log in to see details |
| Composition | Log in to see details |
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| Obverse description | Log in to see details |
|---|---|
| Obverse lettering | 500 香港渣打銀行 Standard Chartered Bank 於一八五九年在香港成立 憑票即付 ESTABLISHED IN HONG KONG 1859 PROMISES TO PAY THE BEARER ON DEMAND AT ITS OFFICE IN HONG KONG 港幣伍佰圓 Five Hundred HONG KONG DOLLARS 承董事會命 香港二零零三年七月一日 BY ORDER OF THE COURT OF DIRECTORS 財務導演 董事 CHIEF FINANCIAL OFFICER DIRECTOR HONG KONG 1 JULY 2003 |
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| Protection type | Watermark, Security thread |
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| Comments |
Standard Chartered's right to issue Hong Kong dollar banknotes derives from the colonial-era arrangement that granted note-issuing privileges to specific commercial banks — a system retained after 1997 handover under the Basic Law. By 2003, all three issuing banks had migrated to the HKMA's currency board arrangement, backing every note in circulation with US dollars held in the Exchange Fund at the linked rate of 7.80.
The $500 denomination in this series is the highest value note Standard Chartered regularly issued for general circulation, and cotton substrate was standard across the issuing banks for durability in Hong Kong's humid climate. Security thread and watermark specifications for this series were coordinated with HKMA requirements, not set unilaterally by the bank.