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Hong Kong's interbank rates rebounded after the Hong Kong Monetary Authority's latest intervention.
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The mortgage-related one-month Hong Kong Interbank Offered Rate rallied about 5 basis points to 1.082 percent.
The overnight rate climbed for three days in a row to 0.089 percent, a new high for over two months. The three-month rate, which reflects the cost of bank funding, increased to 1.849 percent, up about 5 basis points.
The city's de facto central bank stepped into the market on Thursday during New York trading hours, buying a total of HK$13.28 billion after the local currency touched the weak end of its trading band.
The Hong Kong dollar is pegged in a narrow range of 7.75-7.85 to the greenback, and the Hong Kong Monetary Authority intervenes at both ends to defend the peg.
The aggregate balance, the key gauge of cash in the banking system, will fall to HK$101.21 billion by Monday, July 14.
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