BEIJING, June 26 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, dipped 3.2 basis points to 0.991 percent Wednesday.
The seven-day Shibor decreased 4.9 basis points to 2.417 percent, while the two-week rate went down 8.5 basis points to 2.626 percent.
The one-month Shibor shrank 2.9 basis points to 2.731 percent, while the three-month rate went down 5.1 basis points to 2.758 percent and the six-month rate dropped 3.1 basis points to 2.847 percent.
The nine-month rate edged down 1.6 basis points to 3.059 percent, and the one-year rate contracted 2.6 basis points to 3.112 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.
