The Hong Kong dollar was a touch softer against the US dollar on Monday, while short-dated liquidity tightened slightly on month-end demand for funds. "The spot rate moved in a narrow range throughout the day, with some corporate demand for US dollars in the afternoon," one trader said.
The local currency allowed to trade between 7.75 and 7.85 to the US dollar, was trading at 7.7564/65, compared with Friday's close of 7.7562/63. The overnight and tomorrow/next interbank rate firmed on month-end demand for funds, said a dealer at a local bank.
The overnight rate was trading at 4.75/4.85 percent, while the tomorrow/next rate was quoted at 4.95/5.00 percent. Other interbank rates were trapped in a tight range, with the one-month rate quoted at 4.40/4.44 percent late on Monday, softer than Friday's 4.42/4.47 percent. The one-year rate was unchanged at 4.75/4.80 percent.
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