HIBOR Forward Curve: Today’s Market-Implied Path
The 1M, 3M and 6M HIBOR forward curves, bootstrapped from HKD swap quotes and updated every trading day. Compare them on one chart, read the year-by-year forecast, or take the whole grid to Excel.
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Year-end HIBOR forward rates · the HIBOR forecast 5 years out, 1M, 3M and 6M
| Forward curve | 31 Dec 2026 | 31 Dec 2027 | 31 Dec 2028 | 31 Dec 2029 | 31 Dec 2030 | 31 Dec 2031 |
|---|---|---|---|---|---|---|
| 1M HIBOR | 2.97% | 3.87% | 3.79% | 3.72% | ||
| 3M HIBOR | 3.37% | 4.10% | 4.04% | 3.95% | ||
| 6M HIBOR | 3.68% | 4.37% | 4.27% | 4.19% | ||
The market’s HIBOR forecast: forward rates implied by interdealer HKD swap quotes. Read how we build these curves.
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The HIBOR forward curve in Excel & API
If you’re copying this curve into a model more than once a month, you don’t need a download, you need a feed. One function per forward period, always current, straight into your model.
// Excel: any HIBOR forward period in a cell =BlueGamma.FORWARD_RATE("6M HIBOR", start_date, end_date) # API: the same rate, one GET away GET api.bluegamma.io/v1/forward_rate ?index=6M HIBOR&start_date=2027-06-30&end_date=3M x-api-key: your_api_key
The curve prices your float. The desk quotes a par rate.
When you fix, the bank quotes one number for the whole term. Check it against an independent HIBOR mid before you sign: the difference is their margin.
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FAQs
HIBOR, the Hong Kong Interbank Offered Rate, is the benchmark interest rate for Hong Kong dollars. It is set at 11:15 each Hong Kong business day for tenors from overnight to 12 months, as a trimmed average of the rates a panel of 12 to 20 banks quote for lending to each other.
Because the Hong Kong dollar is pegged to the US dollar, HIBOR follows US interest rates over time, but it can move well away from them in the short run as Hong Kong dollar liquidity tightens or loosens. The HKMA Base Rate is set off the US Federal Funds rate and short-dated HIBOR. HONIA is the overnight risk-free rate, and the two coexist: there is no plan to discontinue HIBOR.
Use the tenor your loan or swap resets on: 1M HIBOR for monthly resets, 3M HIBOR for quarterly resets, and 6M HIBOR for semi-annual ones.
All three curves on this page come from the same HKD swap market, so the gaps between them are the market's term premium, not a difference in method. The short tenors react fastest to swings in Hong Kong dollar liquidity, which is why 1M HIBOR can sit well below 3M and 6M.
Markets currently price 3M HIBOR at 3.37% for end-2026, 4.10% for 2027, 4.04% for 2028 and 3.95% for 2029: a rising path. These are forward rates implied by today's swap market, not an in-house view, and they move as expectations shift.
The dated forward rates for 2030, 2031 and the rest of the curve are in the app. Start a free 14-day trial and take them straight to Excel.
Quotes stream straight from tier-one inter-dealer brokers and exchanges. We sanity-check every feed before building the curve.
Yes. Pick any valuation date (and even time) and download the historical curve to Excel.
This page updates every trading day. Need intraday? Most curves update on live rates in the app, and the Excel download uses the latest rates the moment you hit Download. Start a free 14-day trial.
SOFR, SONIA, EURIBOR, CORRA, BBSY, STIBOR, NIBOR, JIBAR and 30-plus others: all with forward curves and discount factors.
Yes. Pull curves via a REST API or use the Excel function =BLUEGAMMA(). Same numbers everywhere, no manual uploads.
Absolutely. Load any swap (fixed-for-floating, amortising or bullet), drop in the notional schedule and get a mark-to-market in minutes, or roll the clock back for historic pricing.
Most free forward curves are published once a month as a static chart. BlueGamma rebuilds the HIBOR curves from swap quotes every trading day, shows the dated values rather than a picture, and lets you download the full grid to Excel during a free trial.
More on HIBOR rates
HIBOR Swap Rates
Today's HKD HIBOR swap rates across the tenor grid, with history.
Forward curve basics
How forward curves are built, read and used in models.
Pull a curve into Excel
How to pull a forward curve directly into a spreadsheet, step by step.
How we bootstrap the yield curve
The methodology behind every curve on this page: market inputs, bootstrapping and interpolation.
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