April 18, 2018 / 3:36 AM / in a month

Hong Kong 3-month HIBOR hits highest this year

HONG KONG, April 18 (Reuters) - The three-month interbank rate in Hong Kong hit its highest since late December on Wednesday, as the financial hub’s currency hovered near the weakest end of its trading band with the U.S. dollar.

The Hong Kong dollar’s three-month borrowing cost in the interbank market, which influences mortgage rates, rose to 1.32 percent.

Earlier on Wednesday, the Hong Kong Monetary Authority (HKMA) stepped into currency markets again, buying an additional HK$5.102 billion ($649.7 million) in U.S. trading hours as its currency repeatedly hit the weak end of its trading band.

Reporting By Donny Kwok; Editing by Anne Marie Roantree

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