Most offshore RMB interbank offered rates decline; over half of intraday repo liquidity utilized

Golden Ten Data reported on March 31 that a key gauge of offshore RMB liquidity—the offshore RMB Hong Kong Interbank Offered Rate (Hibor) as of Tuesday—showed that major term rates mostly adjusted. The one-year Hibor edged down to 1.84151%, hitting a new low since August 25, 2025. In addition, more than half of the Hong Kong Monetary Authority’s RMB 30 billion daily repo liquidity has been utilized. The overnight Hibor fell by 2 basis points to 1.34061%, the one-week Hibor edged down to 1.53788%, and the two-week Hibor slipped to 1.53788%, the lowest since March 9. Click the link to view historical data…