China's overnight Shibor interbank rate increases Wednesday
Source: Xinhua | 2021-04-01
The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 29.9 basis points to 2.124 percent Wednesday.
The seven-day rate rose 1.5 basis points to 2.251 percent, the one-month rate edged up 0.1 basis points to 2.542 percent, and the one-year rate edged down 0.1 basis points to 3.08 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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