SEOUL: The Korea Interbank Offered Rates (KORIBOR) have shown slight adjustments across various terms as reported by Yonhap Infomax.
According to Yonhap News Agency, the latest figures for KORIBOR were recorded at 11:00 a.m. today, indicating minor fluctuations compared to the previous session. The rates are critical for financial markets as they influence various interest rates for products such as loans and savings.
The rates for the shorter-term periods, specifically the one-week term, remained steady at 3.25%. Minor decreases were observed in longer terms; the one-month rate slightly decreased from 3.36% to 3.35%, and the two-month term saw a reduction from 3.41% to 3.39%. Additionally, the three-month KORIBOR decreased from 3.45% to 3.44%.
Notably, the six-month rate also experienced a slight decline, moving from 3.40% to 3.39%, while the longest term, the 12-month rate, decreased from 3.24% to 3.23%. These changes reflect ongoing adjustments in the banking sector that could influence lending rates a
nd economic decisions across industries.
The KORIBOR rates are essential for banks as they determine the lending rates between them; these rates can significantly affect the overall economic environment by influencing decisions on loans and savings. The slight fluctuations in the rates highlight the dynamic nature of the financial markets and the continual adjustments that financial institutions must make in response to both domestic and international economic conditions.