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China's overnight Shibor interbank rate increases Monday

2022-10-24 11:26

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BEIJING, Oct. 24 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 16.4 basis points to 1.394 percent Monday.

The seven-day rate rose 4.4 basis points to 1.726 percent, the one-month rate went up 0.8 basis points to 1.628 percent, and the one-year rate rose 0.6 basis points to 2.02 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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