BUSINESS China's overnight Shibor interbank rate decreases Sunday


China's overnight Shibor interbank rate decreases Sunday


13:30, January 29, 2023

BEIJING, Jan. 29 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 23 basis points to 1.202 percent Sunday.

The seven-day rate dropped 6.1 basis points to 1.854 percent, the one-month rate went down 0.8 basis points to 2.264 percent, and the one-year rate edged down 0.4 basis points to 2.577 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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