China’s in a single day Shibor interbank charge rises Monday

BEIJING, March 11 (Xinhua) — The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, rose 4.5 basis points to 2.09 percent Monday.

The seven-day Shibor increased 0.7 basis points to 2.39 percent, while the two-week rate was down 1.52 basis points to 2.43 percent.

The one-month Shibor grew 0.52 basis points to 2.71 percent, the three-month rate also went up 0.15 basis points to 2.75 percent, and the six-month rate remained unchanged at 2.85 percent.

The nine-month rate remained the same at 2.95 percent, and the one-year rate was up 0.3 basis points to 3.06 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.