China’s overnight Shibor interbank rate increases Friday

BEIJING, Sept. 23– The overnight Shanghai Interbank Offered Rate, which measures the borrowing cost of China’s interbank market, edged up 0.4 basis points to 1.465 percent Friday. The seven-day rate dropped 3.8 basis points to 1.608 percent, the one-month rate went up 0.8 basis points to 1.625 percent, and the one-year rate edged down 0.1 basis points to 1.995…

BEIJING, Sept. 23 (Xinhua) — The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, edged up 0.4 basis points to 1.465 percent Friday.

The seven-day rate dropped 3.8 basis points to 1.608 percent, the one-month rate went up 0.8 basis points to 1.625 percent, and the one-year rate edged down 0.1 basis points to 1.995 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