BEIJING, March 13 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 21.5 basis points to 1.614 percent Monday.
The seven-day rate dropped 5.4 basis points to 1.959 percent, the one-month rate went up 0.7 basis points to 2.371 percent, and the one-year rate edged down 0.1 basis points to 2.749 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. ■
