China's overnight Shibor interbank rate decreases Wednesday
BEIJING, July 28 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 17.8 basis points to 2.092 percent Wednesday.
The seven-day rate rose 4.6 basis points to 2.356 percent, the one-month rate went up 0.5 basis points to 2.329 percent, and the one-year rate remained unchanged at 2.796 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.
