{"id":35124,"date":"2021-06-20T21:08:13","date_gmt":"2021-06-20T17:08:13","guid":{"rendered":"https:\/\/www.uaebarq.ae\/en\/?p=35124"},"modified":"2021-06-20T21:08:40","modified_gmt":"2021-06-20T17:08:40","slug":"uae-interbank-rates-up-replicating-us-feds-move","status":"publish","type":"post","link":"https:\/\/www.uaebarq.ae\/en\/2021\/06\/20\/uae-interbank-rates-up-replicating-us-feds-move\/","title":{"rendered":"UAE interbank rates up replicating US Fed&#8217;s move"},"content":{"rendered":"\n<p>The interest rates charged by the Emirates Inter-Bank Offered Rate (EIBOR) jumped across all terms post the Central Bank of the UAE increased on Thursday its base rate applicable to the overnight deposit facility (ODF) by 5 basis points to 15 bps, replicating the US Federal Reserve&#8217;s move on Wednesday, according to the CBUAE&#8217;s figures.<\/p>\n\n\n\n<p>The one-year deposit facility booked a significant rise to 0.748 bps on June 17 from 0.565 bps on June 16.<\/p>\n\n\n\n<p>The six-month deposit facility likewise grew to 0.643 from 0.489 bps during the reference period, with the one-week deposits going up from 0.10 to 0.118 and ODF from 0.11 bps to 0.117.<\/p>\n\n\n\n<p>The UAE Dirham is pegged to the US Dollar and therefore the interest hike is attributed to the US Federal Reserve&#8217;s decision to increase the Interest on Excess Reserves by 5 bps.<\/p>\n\n\n\n<p>The base rate is the interest rate a central bank charges its domestic commercial lenders to borrow money.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The interest rates charged by the Emirates Inter-Bank Offered Rate (EIBOR) jumped across all terms post the Central Bank of the UAE increased on Thursday its base rate applicable to the overnight deposit facility (ODF) by 5 basis points to 15 bps, replicating the US Federal Reserve&#8217;s move on Wednesday, according to the CBUAE&#8217;s figures. &hellip;<\/p>\n","protected":false},"author":2,"featured_media":35125,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,4],"tags":[],"class_list":["post-35124","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-economy","category-news"],"_links":{"self":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/35124","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/comments?post=35124"}],"version-history":[{"count":1,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/35124\/revisions"}],"predecessor-version":[{"id":35126,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/posts\/35124\/revisions\/35126"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media\/35125"}],"wp:attachment":[{"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/media?parent=35124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/categories?post=35124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uaebarq.ae\/en\/wp-json\/wp\/v2\/tags?post=35124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}