China's overnight Shibor interbank rate rises Thursday

The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost on China's interbank market, rose 17.6 basis points to 2.03 percent Thursday.

The seven-day Shibor increased 2.2 basis points to 2.399 percent, while the two-week rate was up 1.1 basis points to 2.409 percent.

The one-month Shibor dropped 0.4 basis point to 2.651 percent, the three-month rate fell 1 basis point to 2.749 percent, and the six-month rate declined 0.6 basis point to 2.858 percent.

The nine-month rate decreased 0.8 basis point to 2.958 percent, and the one-year rate was down 0.6 basis point to 3.063 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.

(ASIA PACIFIC DAILY)