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China's overnight Shibor interbank rate decreases Tuesday

Xinhua News,BEIJING
2020-05-12 12:55

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BEIJING, May 12 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 7.3 basis points to 0.803 percent Tuesday.

The seven-day rate dropped 11.1 basis points to 1.568 percent. The one-month rate stayed flat at 1.3 percent, and the one-year rate raised 0.5 basis points to 1.695 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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