BUSINESS China's overnight Shibor interbank rate decreases Tuesday

BUSINESS

China's overnight Shibor interbank rate decreases Tuesday

Xinhua

11:55, December 13, 2022

BEIJING, Dec. 13 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 2 basis points to 1.032 percent Tuesday.

The seven-day rate rose 13.8 basis points to 1.748 percent, the one-month rate went up 3.1 basis points to 2.037 percent, and the one-year rate rose 1.8 basis points to 2.532 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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