The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 6.5 basis points to 0.836 percent Thursday.

The seven-day rate dropped 1.3 basis points to 2.144 percent, the one-month rate stayed flat at 2.4 percent, and the one-year rate edged down 0.4 basis points to 2.667 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.

Source:
courtesy of XINHUA NEWS AGENCY

by XINHUA NEWS AGENCY

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