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China's overnight Shibor interbank rate decreases Thursday

Xinhua News,BEIJING
2020-09-03 12:04

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BEIJING, Sept. 3 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 35.2 basis points to 1.742 percent Thursday.

The seven-day rate edged down 0.4 basis points to 2.197 percent, the one-month rate went up one basis point to 2.39 percent, and the one-year rate rose 0.6 basis points to 2.951 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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