BEIJING, Oct. 11 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 12.1 basis points to 1.406 percent Friday.
The seven-day rate dropped 17.4 basis points to 1.526 percent, the one-month rate remained flat at 1.82 percent, and the one-year rate edged down 0.4 basis points to 1.93 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. ■
