Also found in: Acronyms.
Hong Kong Interbank Offered Rate, the annualized offer rate banks pay to attain Hong Kong three-month deposits denominated in dollars.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Hong Kong Interbank Offer Rate
The interest rate that banks in Hong Kong charge one another for interbank loans with terms of up to one year. It is considered a key benchmark interest rate in the wider Asian economy. Interest rate swaps in Asia, for example, often use HIBOR as the reference rate for the floating payer. See also: LIBOR, EURBOR.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved