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China's overnight Shibor interbank rate decreases Monday

BEIJING
2023-08-21 11:28

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BEIJING, Aug. 21 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 0.9 basis points to 1.937 percent Monday.

The seven-day rate dropped 1.1 basis points to 1.875 percent, the one-month rate went down 0.6 basis points to 1.857 percent, and the one-year rate dropped 0.5 basis points to 2.268 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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