BEIJING, March 28 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 24.5 basis points to 2.041 percent Thursday.
The seven-day Shibor shed 9.2 basis points to 2.705 percent, while the two-week rate was down 0.9 basis points to 2.923 percent.
The one-month Shibor dropped 1.8 basis points to 2.825 percent, the three-month rate was down 1.2 basis points to 2.807 percent, and the six-month rate edged down 0.9 basis points to stand at 2.848 percent.
The nine-month rate decreased 0.9 basis points to 2.931 percent, and the one-year rate was down 1.2 basis points to 3.062 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.
