China's overnight Shibor interbank rate drops Wednesday

BEIJING, June 5 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 14.5 basis points to 1.593 percent Wednesday.

The seven-day Shibor rose 7.3 basis points to 2.472 percent, while the two-week rate was down 3.1 basis points to 2.383 percent.

The one-month Shibor went up 1.1 basis points to 2.832 percent, with the three-month rate up 1.4 basis points to 2.916 percent and the six-month rate down 0.1 basis points to 2.952 percent.

The nine-month rate edged up 0.2 basis points to 3.11 percent, and the one-year rate up 0.1 basis points at 3.209 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.

[ Editor: WPY ]


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