China's overnight Shibor interbank rate falls Friday

0 Comment(s)Print E-mail Xinhua, October 16, 2020
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BEIJING, Oct. 16 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, fell 4.6 basis points to 2.017 percent Friday.

The seven-day rate increased 0.8 basis points to 2.199 percent, the one-month rate inched down 0.1 basis points to 2.632 percent, and the one-year rate edged up 0.9 basis points to 3.066 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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