China's overnight Shibor interbank rate increases Tuesday
2020-06-30 Xinhua Editor：Mo Hong'e
The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 77.3 basis points to 1.785 percent Tuesday.
The seven-day rate rose 4.7 basis points to 2.228 percent, the one-month rate went down 1.3 basis points to 2.083 percent, and the one-year rate rose 0.8 basis points to 2.358 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.