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WorldPosted at: Jul 24 2020 10:33AM


China's overnight Shibor interbank rate decreases Friday

Beijing, Jul 24 (Xinhua) The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 1.5 basis points to 1.843 percent Friday.
The seven-day rate dropped 6 basis points to 2.147 percent, the one-month rate went up 0.6 basis points to 2.245 percent, and the one-year rate rose 1.3 basis points to 2.796 percent.
Shibor is a simple, no-guarantee, wholesale interest rate calculated by arithmetically averaging all the interbank RMB lending rates offered by the price quotation group of 18 commercial banks with a high credit rating, with the four highest and four lowest quotations excluded.
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