China's overnight Shibor interbank rate decreases Monday

Source: Xinhua| 2021-08-02 11:41:15|Editor: huaxia

BEIJING, Aug. 2 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 30.2 basis points to 1.876 percent Monday.

The seven-day rate dropped 21.3 basis points to 2.071 percent, the one-month rate went down 1.3 basis points to 2.318 percent, and the one-year rate dropped 0.9 basis points to 2.78 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. Enditem

KEY WORDS: China,Shibor