China's overnight Shibor interbank rate increases Monday
Source: Xinhua | 2021-05-11
The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 16.9 basis points to 1.663 percent Monday.
The seven-day rate stayed flat at 1.909 percent, the one-month rate went down 0.7 basis points to 2.437 percent, and the one-year rate dropped 0.5 basis points to 2.947 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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