BEIJING, Sept. 13 (Xinhua) — The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, decreased 12.1 basis points to 1.656 percent Friday. The seven-day rate rose 1.2 basis points to 1.806 percent, the one-month rate remained flat at 1.83 percent, and the one-year rate stayed flat at 1.96 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.
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