The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, dropped 5.6 basis points to 1.631 percent Thursday.
The seven-day rate went up 1.1 basis points to 2.023 percent, the one-month rate rose 0.7 basis points to 2.409 percent, and the one-year rate edged down 0.1 basis points to 2.738 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
