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China's overnight Shibor interbank rate increases Monday

BEIJING
2023-06-19 11:29

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BEIJING, June 19 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 30.8 basis points to 2.228 percent Monday.

The seven-day rate rose 5.9 basis points to 1.984 percent, the one-month rate went up 1.7 basis points to 2.021 percent, and the one-year rate rose 0.6 basis points to 2.354 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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