Risk Free Rate by Country
Compare short-term reference rates and documented policy-rate proxies across currencies, then select a date to reconstruct the cross-country table.
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Showing the latest observation on or before 2026-09-16 for each country.
As of : 21 currencies with data.
| Country / Currency | Latest | Previous | Change | Last change | Reference | Frequency | Unit | Series basis | Source |
|---|---|---|---|---|---|---|---|---|---|
|
USD · US Dollar
|
3.64
|
3.62
|
▲ +0.02 | Daily | % | Official daily short-rate series | Federal Reserve | ||
|
EUR · Euro
|
2.19
|
2.19
|
● 0 | Daily | % | Official daily short-rate series | ECB | ||
|
JPY · Japanese Yen
|
0.978
|
0.977
|
▲ +0.001 | Daily | % | Official daily short-rate series | Bank of Japan | ||
|
GBP · British Pound
|
3.731
|
3.731
|
▲ +0 | Daily | % | Official daily short-rate series | Bank of England | ||
|
CHF · Swiss Franc
|
-0.04
|
-0.04
|
● 0 | Daily | % | Official daily short-rate series | SNB | ||
|
CAD · Canadian Dollar
|
2.29
|
2.28
|
▲ +0.01 | Daily | % | Official daily short-rate series | Bank of Canada | ||
|
AUD · Australian Dollar
|
4.35
|
4.35
|
● 0 | Daily | % | Official daily short-rate series | RBA | ||
|
NZD · New Zealand Dollar
|
3.15
|
3.14
|
▲ +0.01 | Daily | % | Official daily short-rate series | RBNZ | ||
|
SEK · Swedish Krona
|
1.62
|
1.63
|
▼ -0.01 | Daily | % | Official daily short-rate series | Riksbank | ||
|
NOK · Norwegian Krone
|
4.25
|
4.25
|
● 0 | Daily | % | Official daily short-rate series | Norges Bank | ||
|
BRL · Brazilian Real
|
0.05
|
0.05
|
● 0 | Daily | % | Official daily short-rate series | BCB | ||
|
CNY · Chinese Yuan
|
1.4
|
1.4
|
● 0 | Daily | % | Official daily short-rate series | PBoC | ||
|
CNH · Offshore Chinese Yuan
|
1.4
|
1.4
|
● 0 | Daily | % | Mirrored reference series | CNY mirror | ||
|
DKK · Danish Krone
|
1.85
|
1.6
|
▲ +0.25 | Daily | % | Official daily short-rate series | Nationalbanken | ||
|
HUF · Hungarian Forint
|
5.5
|
5.75
|
▼ -0.25 | Daily | % | Official daily short-rate series | — | ||
|
ILS · Israeli New Shekel
|
3.25
|
4.5
|
▼ -1.25 | ~8x/year | % | Official short-rate series | Bank of Israel | ||
|
MYR · Malaysian Ringgit
|
2.75
|
3
|
▼ -0.25 | Monthly | % | Official short-rate series | BNM | ||
|
NGN · Nigerian Naira
|
26.5
|
27
|
▼ -0.5 | Monthly | % | Official short-rate series | CBN | ||
|
PEN · Peruvian Sol
|
4.25
|
4.5
|
▼ -0.25 | Daily | % | Official daily short-rate series | BCRP | ||
|
TWD · New Taiwan Dollar
|
2
|
1.875
|
▲ +0.125 | Daily | % | Official daily short-rate series | CBC | ||
|
THB · Thai Baht
|
1
|
1.25
|
▼ -0.25 | Daily | % | Official daily short-rate series | Bank of Thailand |
No published Risk Free Rate series yet for South Korea.
What is Risk Free Rate?
The risk-free rate is the overnight interbank lending rate anchoring each currency's money market — SOFR in the US, ESTR in the eurozone, SONIA in the UK, TONA in Japan, RBA cash rate in Australia, etc. These benchmarks replaced the LIBOR family and are now the foundation for floating-rate loans, swaps, and OIS pricing.
Why it matters for FX
Risk-free rates track the policy rate one-for-one in steady state, which makes them the cleanest market read on the central bank's stance. Their forward curves (OIS) embed exactly what rates the market expects over the next several years — and OIS differentials are one of the most reliable predictors of major FX pairs over a multi-month horizon.
How to read this page
Compare across currencies in pairs. Watch the spread between the risk-free rate and the policy rate target — a persistent spread can indicate funding stress (USD repo squeezes, EUR ESTR-deposit-rate gaps).
What to watch for
- OIS-implied terminal rate and timing of first cut
- Quarter-end and year-end funding pressure
- RFR vs policy-rate spread as a stress signal
- Cross-currency basis (xCCY) blowing out
- Repo and SOFR rate spikes around tax dates
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Key Facts
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- Risk Free Rate
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- https://fxmacrodata.com/indicators/risk_free_rate
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