Overnight offshore Yuan HIBOR hits lowest since January 2019

Dhwani Mehta FXStreet

The overnight offshore Yuan (CNH) Hong Kong Interbank Offered Rate (HIBOR) fell to 0.33%, the lowest level since January 29th, 2019, according to Reuters.

The HIBOR fall seems to indicate receding fears among the overseas investors that Beijing is preparing for a far deeper devaluation in the Yuan. This could be in light of the recent optimism on the US-China trade front.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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