China's overnight Shibor interbank rate rises Friday

Source: Xinhua | 2020-02-29

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, increased 28.1 basis points to 1.628 percent Friday.

The seven-day rate rose 18.2 basis points to 2.374 percent. The one-month rate stayed unchanged at 2.301 percent, and the one-year rate dropped 0.5 basis points to 2.735 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.