FX And Hong Kong Interbank Rates Edge Higher

The Hong Kong dollar softened to 7.8392/8400 against the U.S. dollar, while the U.S. dollar rose to 6.7113/7122 against the yuan, according to ETNet. The one-year yuan non-deliverable forward was quoted at 6.5621/5734, narrowing its discount to spot to 1,440 points. Hong Kong interbank rates were higher across the curve, with overnight HIBOR at 3.05%, one-week at 2.69%, two-week at 2.70%, one-month at 2.85%, two-month at 2.97%, three-month at 3.06%, six-month at 3.24% and one-year at 3.59%. ETNet also listed Hong Kong prime rates at 5.0% for Bank of China Hong Kong, Hang Seng and HSBC; 5.25% for Bank of East Asia, CMB Wing Lung, Dah Sing, ICBC Asia, Shanghai Commercial Bank, Standard Chartered and Bank of Communications; 5.375% for Fubon and CCB; 5.55% for CMB International, Chiyu, Chong Hing, Citibank, DBS, Nanyang Commercial, Public Bank, Airstar Bank and PAObank; 5.75% for OCBC; and 6.375% for ZA Bank.