China's overnight Shibor interbank rate increases Tuesday
Source: Xinhua | 2021-11-24
The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 23.2 basis points to 2.178 percent Tuesday.
The seven-day rate rose 6.1 basis points to 2.17 percent, the one-month rate edged up 0.3 basis points to 2.353 percent, and the one-year rate edged up 0.1 basis points to 2.757 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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