BEIJING, March 6 (Xinhua) — The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, decreased 0.6 basis points to 1.713 percent Wednesday.
The seven-day rate dropped 3.3 basis points to 1.822 percent, the one-month rate edged up 0.2 basis points to 2.088 percent, and the one-year rate edged down 0.2 basis points to 2.273 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.