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China's overnight Shibor interbank rate decreases Friday

Xinhua News,BEIJING
2020-05-22 11:47

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BEIJING, May 22 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 1 basis points to 1.094 percent Friday.

The seven-day rate raised 3.9 basis points to 1.595 percent, the one-month rate edged up 0.4 basis points to 1.307 percent, and the one-year rate edged up 0.3 basis points to 1.704 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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