BEIJING, March 16 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, fell 10.5 basis points to 2.14 percent Tuesday.
The seven-day rate dropped 4.6 basis points to 2.229 percent, the one-month rate stayed flat at 2.568 percent, and the one-year rate was unchanged at 3.102 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
