USD/HKD Rises To 7.8426/34 As Hong Kong Interbank Rates Edge Higher

The U.S. dollar rose to HK$7.8426/34, while the dollar fell to RMB 6.7065/73, according to ETNet. The one-year offshore yuan non-deliverable forward was quoted at 6.5424/5529, implying a discount of 1,593 points to spot. Hong Kong interbank rates were also higher across most tenors, with overnight HIBOR at 2.29%, one-week at 2.43%, two-week at 2.53%, one-month at 2.89%, two-month at 2.98%, three-month at 3.07%, six-month at 3.28% and one-year at 3.67%. ETNet also listed Hong Kong prime lending rates, with Bank of China Hong Kong, Hang Seng and HSBC at 5.0%; Bank of East Asia, CMB Wing Lung, Dah Sing, ICBC Asia, Shanghai Commercial Bank, Standard Chartered and Bank of Communications at 5.25%; Fubon and CCB at 5.375%; CMB International, Chiyu, Chong Hing, Citibank, DBS, Nanyang Commercial Bank, PAObank and virtual banks Airstar and PAObank at 5.55%; OCBC at 5.75%; and ZA Bank at 6.375%.