I having been charging my client in USD for last few months. Recently client suggested paying me in HKD. Is HKD a good option as compared to USD when receiving funds?
My Native Currency is INR.
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The Hong Kong Dollar has been pegged to the USD for nearly 30 years and the Hong Kong authorities have fairly strong means to defend the peg. So at first glance it would appear that there is really no difference as long as you are getting 7.75 HKD for each USD that you used to receive.
However, the peg is arbitrary and could be lifted at any time like the removal of the CHF peg to EUR surprised a lot of people in early 2015. As mainland China becomes more integrated it is unclear what will happen to the HKD in the long run. Whether this matters really depends on your contracts. if your contracts are short dated you may only take a discount relative to USD for a few payments before you can try to renegotiate.
It's also worth noting trading HKD for your local INR can be more expensive. Check your local rates.