What is the Hong Kong interbank offered rate (HIBOR)?

The Hong Kong Interbank Offered Rate (HIBOR) is the benchmark interest rate that lenders and borrowers use for interbank lending in the Hong Kong market. The reference rate is used on Hong Kong dollar-denominated financial instruments for specified durations ranging from overnight borrowing to one year.

What is HIBOR and how does it work?

The main function of HIBOR is to serve as a benchmark reference rate for debt instruments in Hong Kong and the broader Asian markets. Some of the financial instruments that use the rate include mortgages, interest rate swaps, corporate bonds, and other financial instruments.

What is the CNY HIBOR rate?

3.2600%. Remarks: The above information is for reference only. The CNY HIBOR will be subject to the rate as quoted by the Bank from time to time. The above information is quoted at Reuters (Code: "BCHN") and Bloomberg (Code: "BOCH") .