China’s overnight Shibor interbank rate decreases Thursday

BEIJING, Aug. 11– The overnight Shanghai Interbank Offered Rate, which measures the borrowing cost of China’s interbank market, decreased 3.8 basis points to 1.03 percent Thursday. The seven-day rate dropped 2.6 basis points to 1.404 percent, the one-month rate edged down 0.3 basis points to 1.53 percent, and the one-year rate edged up 0.2 basis points to 1.99…

BEIJING, Aug. 11 (Xinhua) — The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, decreased 3.8 basis points to 1.03 percent Thursday.

The seven-day rate dropped 2.6 basis points to 1.404 percent, the one-month rate edged down 0.3 basis points to 1.53 percent, and the one-year rate edged up 0.2 basis points to 1.99 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. Enditem