Video PlayerClose
BEIJING, Aug. 15 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, dropped 3 basis points to 2.659 percent Thursday.
The seven-day Shibor dipped 1.7 basis points to 2.678 percent. The one-month rate climbed 1.3 basis points to 2.649 percent, while the one-year rate lost 0.05 basis points to 3.0825 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
