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China's overnight Shibor drops Sunday

2019-04-28 14:44

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BEIJING, April 28 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, dropped 42.6 basis points to 2.07 percent Sunday.

The seven-day Shibor decreased 3 basis points to 2.705 percent, while the two-week rate was down 9.1 basis points to 2.921 percent. The one-month Shibor inched down by 0.2 basis point to 2.857 percent.

Meanwhile, Shibors with longer maturities went up. The three-month rate climbed 1.3 basis points to 2.909 percent, and the six-month rate gained 1.4 basis points to stand at 2.946 percent. The nine-month rate rose 1.4 basis points to 3.03 percent, and the one-year rate was up 1.3 basis points to 3.142 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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