BEIJING, July 2, 2020 (BSS/Xinhua) -The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, decreased 22.2 basis points to 1.745 percent Thursday.
The seven-day rate dropped 8.9 basis points to 2.006 percent, the one-month rate went down 3.3 basis points to 2.038 percent, and the one-year rate rose 0.7 basis points to 2.368 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.