China's overnight Shibor interbank rate unchanged Monday-Xinhua

China's overnight Shibor interbank rate unchanged Monday

Source: Xinhua

Editor: huaxia

2024-05-20 13:25:45

BEIJING, May 20 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, stayed flat at 1.719 percent Monday.

The seven-day rate dropped 0.5 basis points to 1.803 percent, the one-month rate edged down 0.2 basis points to 1.905 percent, and the one-year rate edged up 0.3 basis points to 2.099 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.