China's overnight Shibor interbank rate declines Thursday

BEIJING, March 21 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 5.3 basis points to 2.661 percent Thursday.

The seven-day Shibor declined 2.7 basis points to 2.684 percent, while the two-week rate was down 1 basis point to 2.936 percent.

The one-month Shibor added 0.9 basis points to 2.884 percent, the three-month rate was up 0.5 basis points to 2.838 percent, and the six-month rate dropped 0.1 basis points to stand at 2.864 percent.

The nine-month rate increased 0.1 basis points to 2.963 percent, and the one-year rate was up 0.3 basis points to 3.091 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.