Hong Kong three-month HIBOR hits highest level this year - Reuters
|The Hong Kong Interbank Offered Rate (HIBOR) or the interbank borrowing costs has jumped to 1.32071 - its highest level this year. The rise could be associated with the Hong Kong Monetary Authority's increased purchases of local dollars - an effort undertaken to narrow the gap or spread between the Libor and Hibor.
The steep rise in LIBOR (London Interbank Offered Rate) and the widening LIBOR-HIBOR spread seems to be behind the Hong Kong dollar’s recent depreciation.
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