BEIJING, Sept. 27 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 20.7 basis points to 1.401 percent Friday.
The seven-day rate dropped 17.7 basis points to 1.661 percent, the one-month rate edged down 0.3 basis points to 1.822 percent, and the one-year rate edged down 0.3 basis points to 1.923 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. ■
