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China's overnight Shibor interbank rate decreases Wednesday

Xinhua News,BEIJING
2020-05-13 14:24

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BEIJING, May 13 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 9.8 basis points to 0.705 percent Wednesday.

The seven-day rate dropped 8.3 basis points to 1.485 percent, The one-month rate stayed flat at 1.3 percent, and the one-year rate edged up 0.1 basis points to 1.696 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.

(This article is generated by Xinhua News Robot.)
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