BEIJING, Oct. 12 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 5.4 basis points to 1.81 percent Thursday.
The seven-day rate dropped 0.6 basis points to 1.889 percent, the one-month rate edged down 0.2 basis points to 2.234 percent, and the one-year rate rose 0.6 basis points to 2.463 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. ■
