Seoul: The Korea Interbank Offered Rates (KORIBOR) remained largely unchanged in its latest update, showing stability across various terms, according to the latest figures released by Yonhap Infomax.
According to Yonhap News Agency, the rates, which are crucial for benchmarking the cost of borrowing between banks in South Korea, were posted at 11:00 a.m. today. The information provided by Yonhap Infomax, the financial news division of Yonhap News Agency, detailed that the KORIBOR for a one-week term stood steady at 3.25%, mirroring its previous session figure. Similarly, the one-month and two-month terms held at 3.34% and 3.38%, respectively.
Notably, there was a slight decrease in the three-month and six-month terms which saw a minor adjustment. The three-month term rate decreased by a basis point from 3.43% to 3.42%, and the six-month term also saw a small decline from 3.38% to 3.37%. Meanwhile, the 12-month term rate experienced a slight dip from 3.23% to 3.22%.
These rates are indicative of the market
conditions and interbank lending rates, which are essential for financial institutions in managing liquidity and funding costs. The stability in KORIBOR suggests a stable interbank lending environment in South Korea at present.