BEIJING, Feb. 13 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 45.3 basis points to 1.412 percent Monday.
The seven-day rate dropped 3.8 basis points to 1.923 percent, the one-month rate edged up 0.1 basis points to 2.199 percent, and the one-year rate stayed flat at 2.621 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.
