BEIJING, Sept. 27 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 3.5 basis points to 1.706 percent Wednesday.
The seven-day rate dropped 12.1 basis points to 1.848 percent, the one-month rate went up 1.8 basis points to 2.278 percent, and the one-year rate rose 0.8 basis points to 2.44 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. ■
