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China's Overnight Shibor Interbank Rate Decreases Friday
November 25th, 2022 | 12:37 PM | 113 views
The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 2.3 basis points to 1.021 percent Friday.
The seven-day rate dropped 2.5 basis points to 1.744 percent, the one-month rate went down 1.6 basis points to 1.924 percent, and the one-year rate dropped 1.8 basis points to 2.419 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.
courtesy of XINHUA NEWS AGENCY
by XINHUA NEWS AGENCY
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