CHINA China's overnight Shibor interbank rate dips Thursday

CHINA

China's overnight Shibor interbank rate dips Thursday

Xinhua

13:46, December 05, 2019

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File photo: CGTN

BEIJING, Dec. 5 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, lost 6.5 basis points to 1.906 percent Thursday.

The seven-day rate edged up 0.7 basis points to 2.433 percent. The one-month rate gained 1.2 basis points to 2.811 percent, and the one-year rate was flat at 3.121 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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