Offshore RMB interbank offered rates have remained relatively stable.

Offshore RMB Hong Kong Interbank Offered Rate (HIBOR) on Friday showed that there were minimal changes in major tenor rates; with overnight HIBOR falling by 9 basis points to 1.25636%, reaching the lowest point since September 11. In addition, 60% of the 200 billion RMB of daily repo agreement liquidity provided by the Hong Kong Monetary Authority has been utilized. One-week HIBOR decreased slightly to 1.50636%; two-week HIBOR rose to 1.61091%, reaching the highest point since September 10; one-year HIBOR slightly increased to 1.91242%, temporarily moving away from a low point of over a week.