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China's overnight Shibor interbank rate falls Friday

Xinhua News,BEIJING
2020-03-06 11:24

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The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 8.8 basis points to 1.362 percent Friday.

The seven-day rate fell 5.4 basis points to 2.035 percent. The one-month rate went down 2.4 basis points to 2.126 percent, and the one-year rate dropped 3.5 basis points to 2.616 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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