BEIJING, June 25 (Xinhua) — The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, decreased 43.1 basis points to 1.413 percent Sunday.
The seven-day rate dropped 5.9 basis points to 1.95 percent, the one-month rate went up 1.3 basis points to 2.074 percent, and the one-year rate remained flat at 2.36 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.