One-month Hibor hit a new three-year low

The home loan-related interbank rate declined for the sixth consecutive trading day to a new low for three years, as the US dollar remains weak.
The one-month Hong Kong Interbank Offered Rate fell to 0.545 percent on Tuesday, hitting a three-year low, dropping more than 1 basis point in a single day and accumulating a drop of 34 basis points in six consecutive trading days.
The decrease brings the real mortgage interest rate based on Hibor to 1.845 percent.
The rates with tenors from two months to one year slid 2 to 3 basis points, down three consecutive days.
In addition, the Hong Kong dollar exchange rate fluctuated at the level of 7.848 per US dollar, with the lowest level seen at 7.8484 in the morning.
The US dollar index stood at 99.15 by noon, down by 8.6 percent so far this year.
STAFF REPORTER