Overnight Shibor ticks up to 2.65pc

Business | 15 Mar 2019 11:35 am

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, climbed by 34.5 basis points to 2.655 percent today.

The seven-day Shibor increased 13 basis points to 2.728 percent, while the two-week rate was up 13.7 basis points to 2.617 percent.

The one-month Shibor added 3.6 basis points to 2.81 percent, the three-month rate was up 2.2 basis points to 2.799 percent, and the six-month rate edged up 0.4 basis points to 2.858 percent.

The nine-month rate increased 0.3 basis points to 2.956 percent, and the one-year rate was up 0.5 basis points to 3.077 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.

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