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China's overnight Shibor interbank rate decreases Tuesday

2020-12-22 11:41

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BEIJING, Dec. 22 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 47.4 basis points to 1.015 percent Tuesday.

The seven-day rate gained 1.1 basis points to 2.061 percent, the one-month rate edged down 0.3 basis points to 2.714 percent, and the one-year rate dropped 0.7 basis points to 3.04 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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