BEIJING, Sept. 13 (Xinhua) — The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, lost 31 basis points to 1.524 percent Wednesday.
The seven-day rate lost 5.7 basis points to 1.874 percent, the one-month rate edged up 2.8 basis points to 2.027 percent, and the one-year rate rose 0.8 basis points to 2.339 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.