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China's overnight Shibor interbank rate lower Thursday

Xinhua News,BEIJING
2020-04-23 11:10

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BEIJING, April 23 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, declined 0.8 basis points to 0.893 percent Thursday.

The seven-day rate climbed 8.7 basis points to 1.663 percent, The one-month rate edged up 0.1 basis points to 1.301 percent, and the one-year rate edged up 0.7 basis points to 1.683 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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