China’s overnight Shibor interbank rate rises Monday

BEIJING, May 9– The overnight Shanghai Interbank Offered Rate, which measures the borrowing cost of China’s interbank market, rose 1.5 basis points to 1.309 percent Monday. The seven-day rate gained 11.5 basis points to 1.814 percent, the one-month rate went down 2 basis points to 2.089 percent, and the one-year rate fell 1.2 basis points to 2.45 percent.

BEIJING, May 9 (Xinhua) — The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, rose 1.5 basis points to 1.309 percent Monday.

The seven-day rate gained 11.5 basis points to 1.814 percent, the one-month rate went down 2 basis points to 2.089 percent, and the one-year rate fell 1.2 basis points to 2.45 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

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