BUSINESS China's overnight Shibor interbank rate decreases Thursday

BUSINESS

China's overnight Shibor interbank rate decreases Thursday

Xinhua

13:00, August 26, 2021

BEIJING, Aug. 26 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 1.2 basis points to 2.199 percent Thursday.

The seven-day rate went up 0.8 basis points to 2.319 percent, the one-month rate increased 0.3 basis points to 2.312 percent, and the one-year rate stayed the same at 2.7 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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