BEIJING, May 7 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 25.1 basis points to 1.391 percent Tuesday.
The seven-day Shibor decreased 17.95 basis points to 2.349 percent, while the two-week rate was down 13.5 basis points to 2.402 percent.
The one-month Shibor decreased 3.8 basis points to 2.773 percent, with the three-month rate down 1.2 basis points to 2.922 percent, and the six-month rate down 0.5 basis points to stand at 2.951 percent.
The nine-month rate decreased 0.1 basis points to 3.05 percent, and the one-year rate was down 0.2 basis point to 3.154 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.
