BEIJING, March 24 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, fell 3.1 basis points to 0.814 percent Tuesday.
The seven-day rate went down 11.2 basis points to 1.693 percent, the one-month rate dropped 2.4 basis points to 1.938 percent, and the one-year rate fell 1.8 basis points to 2.392 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.
