SEOUL - The Korea Interbank Offered Rates (KORIBOR), the benchmark interest rates at which banks offer to lend unsecured funds to each other in the South Korean interbank market, have been updated as of 11:00 a.m. today.
According to Yonhap News Agency, the financial news and information arm of Yonhap News Agency, the rates for various terms are as follows:
1-Week: 3.50%, unchanged from the previous session.
1-Month: 3.66%, slightly down from 3.67% in the previous session.
2-Months: 3.79%, remaining steady from the previous session.
3-Months: 3.97%, consistent with the previous session's rate.
6-Months: 4.09%, unchanged from the previous session.
12-Months: 4.13%, a slight decrease from 4.14% in the previous session.
These rates are a critical indicator of the short-term interest rates in the South Korean banking sector, reflecting the cost of borrowing between banks.