Borrowing offshore yuan overnight just got cheaper

Down to a one-week low

Overnight rate for HIBOR at 3.61% today

This week so far:

  • On Monday it hit a record 13.4%
  • Tuesday it hit a new record at 66.8%
  • Wednesday back down, to 8.31%

Its average over the past 6 months has been around 3.8%

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The USD/CNY fix has been stable now for 5 consecutive days.