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In Hong Kong, HIBOR is officially called the "Hong Kong Dollar Interest Settlement Rates". It is defined in the Guide to Hong Kong Monetary, Banking and Financial Terms as "The rate of interest offered on Hong Kong dollar loans by banks in the interbank market for a specified period ranging from overnight to one year."
The Hong Kong Monetary Authority (HKMA), Hong Kong's de facto central bank, authorised note-issuing banks to issue banknotes. These banks are required to have the same amount of US dollars to issue banknotes. The HKMA guarantees to exchange US dollars into Hong Kong dollars, or vice versa, at the rate of 7.80. When the market rate is below 7.80 ...
TemplateData for Hong Kong dollar This template renders a Hong Kong currency value (HKD) with an ISO-4217 identifier linked to the ''Hong Kong dollar'' article. The value will be formatted via {{Format price}}.
Hong Kong's monetary authority raised the city's borrowing cost by 75 basis points for the second consecutive month, in lockstep with an increase of the same amount overnight by the US Federal ...
More Hong Kong homebuyers are expected to shift to cheaper mortgages linked with the Hong Kong one-month interbank offered interest rate (Hibor) after all of the city's major commercial banks said ...
By this arrangement the HKMA guarantees to exchange United States dollar into Hong Kong dollars and vice versa, at the rate of 7.80. When the market rate is below 7.80, the banks will convert United States dollar for Hong Kong dollars from the HKMA, Hong Kong dollars supply will increase, and the market rate will climb back to 7.80.
Hong Kong's Hang Seng lost 0.6% to 16,832.52, while the Shanghai Composite fell 0.3% to 3,066.66. ... High rates slow the economy by design, by making borrowing more expensive. ... the U.S. dollar ...
The economy of Hong Kong is a highly developed free-market economy. It is characterised by low taxation, almost free port trade and a well-established international financial market. [15] [16] Its currency, called the Hong Kong dollar, is legally issued by three major international commercial banks, [17] and is pegged to the US dollar.