BEIJING, June 23 (Xinhua) -- The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China's interbank market, decreased 9.3 basis points to 2.208 percent Wednesday.
The seven-day rate dropped 6.1 basis points to 2.276 percent, the one-month rate stayed flat at 2.406 percent, and the one-year rate edged up 0.1 basis points to 2.906 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
