BEIJING, July 27 (Xinhua) — The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, decreased 6.3 basis points to 1.396 percent Thursday.
The seven-day rate dropped 3.5 basis points to 1.818 percent, the one-month rate stayed flat at 2.066 percent, and the one-year rate also stayed flat at 2.338 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.