Six-month EIBOR hit 160 basis points in April

ABU DHABI, The six-month interest rates charged by the Emirates Inter-Bank Offered Rate, EIBOR, booked on April 5th a significant rise, hitting 160 basis points, from 139 points in March, according to the Central Bank of the UAE’s figures.

In the meantime, the one-year interest rates dropped, touching 136 points from 160 pts during the reference period, according to the apex bank’s statistics.

The three-month EIBOR increased from 164 pts to 167 pts during the reference period, with other terms rising as well at varying levels.

The new hike encouraged more investors seeking quick gains in the shortest time possible to utilise this key investment vehicle under the current trying times.

Source: Emirates News Agency