BEIJING, July 14 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 45.8 basis points to 1.67 percent Tuesday.
The seven-day rate dropped 5.3 basis points to 2.148 percent, the one-month rate went up 2 basis points to 2.077 percent, and the one-year rate rose 2.5 basis points to 2.48 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. Enditem
