BUSINESS China's overnight Shibor interbank rate increases Wednesday

BUSINESS

China's overnight Shibor interbank rate increases Wednesday

Xinhua

11:55, July 21, 2021

BEIJING, July 21 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 0.4 basis points to 2.182 percent Wednesday.

The seven-day rate rose 2 basis points to 2.218 percent, the one-month rate edged up 0.2 basis points to 2.315 percent, and the one-year rate edged down 0.4 basis points to 2.801 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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