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Economy

China's overnight Shibor interbank rate rises Friday

1
2019-07-19 13:49:10Xinhua Editor : Mo Hong'e ECNS App Download

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, rose 5.5 basis points to 2.827 percent Friday.

The seven-day Shibor rose 0.5 basis points to 2.753 percent, while the two-week rate went up 3.8 basis points to 2.989 percent.

The one-month Shibor increased 1.4 basis points to 2.591 percent. The three-month rate edged up 0.8 basis points to 2.631 percent, and the six-month rate grew 0.1 basis points to 2.705 percent.

The nine-month and one-year rates both remained flat at 3.018 percent and 3.101 percent, respectively.

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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