BEIJING, Feb. 27 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost on China's interbank market, dropped 5.1 basis points to 2.654 percent Wednesday.
The seven-day Shibor increased 0.5 basis points to 2.75 percent, while the two-week rate was up 2.5 basis points to 2.887 percent.
The one-month Shibor grew 0.5 basis points to 2.686 percent, the three-month rate was flat at 2.756 percent, and the six-month rate raised 0.1 basis points to 2.852 percent.
The nine-month rate rose 0.1 basis points at 2.954 percent, and the one-year rate was up 0.2 basis points at 3.061 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.
