China’s Overnight Shibor Interbank Rate Decreases Thursday

BEIJING, Aug. 15 (Xinhua) — The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, decreased 8.8 basis points to 1.754 percent Thursday. The seven-day rate dropped 5.5 basis points to 1.814 percent, the one-month rate edged down 0.1 basis points to 1.811 percent, and the one-year rate edged down 0.1 basis points to 1.922 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.