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China's overnight Shibor interbank rate increases Monday

BEIJING
2023-10-09 11:55

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BEIJING, Oct. 9 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 13.3 basis points to 1.73 percent Monday.

The seven-day rate rose 3.7 basis points to 1.801 percent, the one-month rate went down 2.8 basis points to 2.236 percent, and the one-year rate remained flat at 2.447 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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