China's overnight Shibor interbank rate declines Tuesday

0 Comment(s)Print E-mail Xinhua, April 02, 2019
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BEIJING, April 2 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 35.9 basis points to 1.956 percent Tuesday.

The seven-day Shibor fell 12.6 basis points to 2.453 percent, while the two-week rate was down 18.6 basis points to 2.527 percent.

The one-month Shibor dropped 3.7 basis points to 2.745 percent, the three-month rate was down 0.9 basis points to 2.786 percent, and the six-month rate edged down 1 basis point to stand at 2.825 percent.

The nine-month rate decreased 0.4 basis points to 2.913 percent, and the one-year rate was down 0.5 basis points to 3.042 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. Enditem

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