BEIJING, June 28 (ABC): The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, was flat at 1.438 percent Tuesday.
The seven-day rate dropped 1.2 basis points to 1.98 percent, the one-month rate edged up 0.1 basis points to 1.895 percent, and the one-year rate edged up 0.3 basis points to 2.363 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.