China's offshore Yuan Hibor rises to highest since November 2018

Omkar Godbole FXStreet Contributor

China's two-week offshore Yuan (CNH) Hong Kong Interbank Offered Rate (HIBOR) rose to 4.04% on Monday, the highest level since November 2018, according to Reuters.

Meanwhile, the one-week HIBOR rate to 4.09%, the highest since November 2018.

Also, the one-month rate jumped to 3.87%, the highest since December 2018.

The uptick in CNH HIBOR suggests tightness in yuan liquidity offshore (Hong Kong), and that could mean shorting the Chinese currency has become more expensive.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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