Beijing, Oct 12 (Xinhua) The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, decreased 9.8 basis points to 1.53 percent Monday.
The seven-day rate climbed 4.4 basis points to 2.073 percent, the one-month rate went down 1.4 basis points to 2.635 percent, and the one-year rate edged up 0.3 basis points to 3.031 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.