China's overnight Shibor interbank rate remains flat Friday

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BEIJING, Aug. 2 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, remained flat at 2.634 percent Friday.

The seven-day Shibor rose 0.9 basis points to 2.647 percent. The one-month rate remained flat at 2.6 percent, and the one-year rate remained flat at 3.096 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

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