BEIJING, April 11 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, edged down 0.1 basis points to 1.721 percent Thursday.
The seven-day rate edged down 0.2 basis points to 1.815 percent, the one-month rate went down 1 basis point to 2.039 percent, and the one-year rate dropped 0.8 basis points to 2.222 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. ■
