BEIJING, April 3 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 29.3 basis points to 1.663 percent Wednesday.
The seven-day Shibor fell 9.6 basis points to 2.357 percent, while the two-week rate was down 12.4 basis points to 2.403 percent.
The one-month Shibor dropped 4.8 basis points to 2.697 percent, the three-month rate was down 1.9 basis points to 2.767 percent, and the six-month rate edged down 0.7 basis points to stand at 2.818 percent.
The nine-month rate decreased 0.4 basis points to 2.909 percent, and the one-year rate was up 0.2 basis points to 3.044 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.